A bearish butterfly harmonic reversal pattern was observed in GBPUSD pair in an hourly timeframe. There is a minor bearish divergence near point D of the pattern signaling a reversal in the uptrend with point D being the potential reversal zone (PRZ). Breakout at point B could be a good point to take short positions in the potential downtrend.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.