There are few opportunity to take some profit until GBPUSD is consolidating on Daily base after the long trend (started Mar 5th). Taking in mind that move up could continue we could benefit from the side away movement using a lower time frame.Let's take 4 hour chart as a sample:
Here is the end of the same channel visible on the daily chart.We could find two Head and Shoulders formations close one after another. Each one has few Divergent Bars .
First is on Apr 27 just below the left Head. This DBar is taken fast and a rally of a bit less than 100 pips follows immediately. The Buy Stop order should be placed on 1.9934, just above the High of the bar. Trailing stop will kick up out somewhere above 2.00.
The next Dbar is again below the head offering another opportunity to collect some profit during the move from 1.9885 to 1.9970 (about 80 pips)
We have to take in mind the upper time frame - where there is probability of up continuation move on the channel break.
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