Fxprotrader

GBPUSD: Pending Bearish Bat Pattern

Short
FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD has been in a rally for a while, trading below the median line of an upsloping andrews pitchfork. In case it continue the upmove it will very soon complete a bearish bat pattern. Because this is a high timeframe you may don't want to trade it with a stoploss above X point. In such case, wait for the pattern completion and then switch to the lower timeframes looking for a smaller sell setup with a tighter stoploss.

1.33126 is a nicelevel to aim for...

Feel free to like, comment and share your analysis,
John
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