GBPUSD, potential harmonic pattern
Updated
After finishing e-wave in the channel, we had a bounce on the upside due to Trump’s tweet, and a potential harmonic pattern forming. Price retraced to 61.8% area. A break below the current support level could already provide a good short opportunity with tight stop above the swing and target fib levels, moving the stop. C could be a small or large retracement. Price could retrace back to the 1.30 levels or lower even, harmonic pattern stays as long as C is not lower than A. At that point it is possible to capture a nice long move to the upside.
Note
Note
First support hit at 38.2%, let's see how far the pattern will retrace.
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