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bluebellfxtrading

GBPAUD - Bearish Butterfly Pattern

Short
British Pound / Australian Dollar (FOREXCOM:GBPAUD)  
bluebellfxtrading  
FOREXCOM:GBPAUD   British Pound / Australian Dollar
Trend Analysis Harmonic Patterns Chart Patterns
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trendanalysis harmonicpatterns chartpattern
GBPAUD has been in an ascending channel on the weekly timeframe and currently heading to the resistance but price has given a clear reversal indication by printing a bearish butterfly pattern and having it's point D at the resistance..
Entry for Short/Sell at point D - the red circle which is exactly at the resistance of the ascending channel.
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