Here is an analysis on the GBP/USD
GU is currently trading @ 1.41200
Our expectations on the pair have now turned bearish
We have bearish harmonics on both the 4H & 1D chart
But GU is still currently bullish as you can see it is still trading within the current trend line
If GU breaks above 1.41500 we'd expect it to hit 1.42 before falling back to 1.40, then 1.39
creating a perfect selling opportunity for us. It would be advantageous to place Sell Limit entries @ that level
On the other hand if the pair breaks below its current trendline & treats 1.41 as resistance then we would expect it
to fall further to 1.40, 1.39
Do note that there still is a bearish harmonic present on the 1M chart.
link to previous analysis below
GU is currently trading @ 1.41200
Our expectations on the pair have now turned bearish
We have bearish harmonics on both the 4H & 1D chart
But GU is still currently bullish as you can see it is still trading within the current trend line
If GU breaks above 1.41500 we'd expect it to hit 1.42 before falling back to 1.40, then 1.39
creating a perfect selling opportunity for us. It would be advantageous to place Sell Limit entries @ that level
On the other hand if the pair breaks below its current trendline & treats 1.41 as resistance then we would expect it
to fall further to 1.40, 1.39
Do note that there still is a bearish harmonic present on the 1M chart.
link to previous analysis below
