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GBP/USD forms bullish cipher pattern, good to sell on rallies

FX:GBPUSD   British Pound/U.S. Dollar
414 1 10
Harmonic Pattern formed – Bullish Cypher pattern

Potential Reversal Zone (PRZ) - 1.5370 ( Trend line joining 1.5658 and 1.5506)

Cable has made high of 1.5335 and retreated from that level. Overall trend is still weak as long as resistance 1.5370 holds.

On the lower side minor support is around 1.5250 and break below targets 1.5220 which will be acting as short term support and any break below will drag the pair till 1.5150/1.5080.

It is good to sell on rallies around 1.5320-25 with SL around 1.5375 for the TP of 1.5225/1.5150/1.5080
cable will remain range bound... very tight range... and why i am saying this..!! Due to seasonal trend.. gu remain resilient in month of nov. and dec... and in last week of dec and in start of jan.. it fall like hell...

Even gu falls it will come up again.. and real downtrend on this pair resume in xmas and new year holidays..
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