GBP/USD: Bulls exhausting ?
The incident in Syria has left the dollar in mixed sentiment, although dollar strength is anticipated very soon.
Looking at the Cable chart, indicators are slowing down nearing the overbought zone, which could signal a reversal by next week. A bearish Crab is almost complete, and a bullish Shark pattern might be on it's course as well.
The pattern reversal zone (PRZ) is estimated to be in the range of [1.5900, 1.5980] according to harmonic coordinates and resistance lines.
A safer way to approach reversal is take shorts on the break of the red uptrend line, since it will be certainly a bearish trigger.
Targets to take profit are 1.5400 and 1.5070.
May the market be with you.
Looking at the Cable chart, indicators are slowing down nearing the overbought zone, which could signal a reversal by next week. A bearish Crab is almost complete, and a bullish Shark pattern might be on it's course as well.
The pattern reversal zone (PRZ) is estimated to be in the range of [1.5900, 1.5980] according to harmonic coordinates and resistance lines.
A safer way to approach reversal is take shorts on the break of the red uptrend line, since it will be certainly a bearish trigger.
Targets to take profit are 1.5400 and 1.5070.
May the market be with you.
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