LotsOfLore

Possible butterfly pattern forming - moving to D

FX:GBPUSD   British Pound/U.S. Dollar
Based on fibonacci extensions, price looks to be forming a harmonic pattern of the butterfly type. All the checklist has been passed up to the point C. The price now seems to be moving up to D. If this pattern unwinds, it will be a barish XABCD and entry should be placed at D targeting the 38.2% - 61.8% retracement from the low at A: ~ 1.42022. Which also happens to be a trendline resistance to be possibly turning support.
Comment: Currently testing support of 1.435 which was point B. Still hopeful it will continue towards D. The dollar seems to be set on continuing its decline for the very short term at least
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out