Get started
BeaucoupPips

Will GBPUSD React or Reverse?

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
BeaucoupPips Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Butterfly Support and Resistance
3
0
butterflypattern supportandresistance
GBPUSD has done a Wyckoff Distribution with a 4th hit to the upside to clear out stops and a potential Bearish Butterfly pattern on the H1 timeframe. This pattern could send the price down towards the next LQP 1.25000. I'll wait for confirmation to see how price reacts to this pattern. Will it yield a reversal or a reaction?
Order cancelled
Comment:
Price was closed, but unfortunately didn't touch the D point.
Disclaimer

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.