TheDailyTrader_FX
Short

GBP/USD 4H Bearish butterfly pattern @ 1.34545

FX:GBPUSD   British Pound / U.S. Dollar
Pair is currently approaching a major structure level that has worked as good support and resistance level number of times in the past. Bearish butterfly that is potentially forming now, completes right at that level providing a nice shorting opportunity. RSI shuld be overbought at completion of the pattern to confirm sell signal. ATR based stops above the 1.618 fib extension of XA leg.

I remind you that it's just my vision about possible market movements. If you have your own, please share in comments. I will be glad to discuss with you. I will be very grateful for supporting my post by your LIKEs, if it's not so hard for you. :)

Trade your plan and good luck in the markets!

Comments

GBP is a nightmare to try and trade right now.. purely political headline tennis!!
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