Perhaps 123 on Cable again?

Good morning Dynamic Traders,

Today I am awaiting confimation of a possible 123 setup on the GBPUSD four hour timeframe.

As you will see I have put some divergence points on the image below, together with a note about the proximity to the figure.
I am going to monitor this currency pair off my lower timeframes and have already got an entry point and a pre determined SL in mind should I enter.

Price is at other confluences for this type of set-up and so depending on your trading plan you may wish to act accordingly, and whilst doing your own analysis you can also check what the higher timeframe is up to.

Charts courtesy of AdvancedGet.

Have fun with your trading.

Clayton Farnworth.