josharmstrngfx

josharmstrngfx

Potential harmonic pattern playing out on the weekly/ daily time frames. Price has formed a wedge/triangle since last year October/November. price could break above the bullish trend line of wedge drawn moving towards 1.38000 , also the 127.2 fib retracement level of X-A swing high to low. Alternatively price could fall below support of wedge and larger weekly...

josharmstrngfx

Upon the last few bearish weeks of GBPUSD, we have now reached previous daily & weekly lows/support in the area of 1.2450 to around 1.24800. I have spotted this possible harmonic pattern in the potential reversal zone. As well as this price has bounced off of the lower trend line of a bullish wedge on the 4hr chart.