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Short

UPDATE: GBPUSD: Quick Trade - Potential Bearish Bat **INVALID**

FX:GBPUSD   British Pound / U.S. Dollar
UPDATE: Prices burst through the PRZ for this bat therefore making it invalid. No trade was taken here.

This is on a 1HR chart. Almost complete. Credit for this Bat goes to Alexander Nikitin. See Related Ideas for his original post on this.

However, if you take this trade, keep in mind about my post on the longer term on this pair.

**NOTE**
"Quick Trade" posts are purely based on advanced             harmonic patterns without other supporting factors. Please use your best judgement if taking these trades.
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Because prices broke through the PRZ of this bat VERY QUICKLY and decisively, no trade was taken. Also because overall, I am still bullish and in LONG positions on this pair as per my previous analysis
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EverythingForex EverythingForex
In addition, I just posted an UPDATE on this adding a bearish crab to the mix. Check it out....
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Personally, I'm already in LONG positions on this pair as per my longer-term analysis. But when this bat gets filled, I will take a short position on it as well and play this bear bat. Not closing my LONGS though. If prices closes above the X point of this bat and therefore, makes it invalid, I will actually look to add LONG positions. But that's just my trading plan. Good luck!
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Good Analysis. I'm waiting for the 1.54650 area - if there's bearish evidence (candlestick patterns) i'll start shorting.
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