Falling back through the 0.236 Fibonacci support after NFP in GBPUSD validates a bearish bat harmonic pattern at yesterdays 1.3269 high which is the 0.886 retrace from the September 2016 highs.
(Not the GBP crash low was agreed at 1.1860 so low is adjusted). A break of the red trend line from June lows would confirm.
First target is 1.2933 and if that breaks...
The rally from the 07 July low has reached the bearish ABCD measured move objective at 162.67. This is also the 200 day MA and strong resistance. The topping pattern and bearish price action suggest a reversal here and downtrend resumption. The rally from 07 July looks like a bear flag and a break down has a target of 157.20
The AB=CD decline into and reversal at the 0.382 retrace from the 2015 lows argues for higher prices.
Stalled at the o.236 Fib retrace of the decline an hourl7y close above 0.7091 should trigger longs to 0.7226 or 0.7287 next.
At 108.50 USDJPY has made a bearish ABCD pattern rally from the June lows and it is also the 0.382 retrace level from the November 2015 highs. I dont normally like drawing Fibonacci from interim levels but ... If we break back below the 200 day MA at 106.40 it will confirm.
The 200 week MA is resistance at the highs here also adding weight to the short idea.
Cable has been trading within a triangle pattern since the end of June lows with slow overlapping waves and respecting Fibonacci patterns nicely. The Mid August low was also a bullish harmonic pattern.
This harmonic bat pattern support at 1.2914-36 has us looking for a bullish reversal or bounce at least back to 1.3137 . This trade idea is wrong below 1.2850.