Chart : GBP/USD
Harmonic Analysis:
The GBP/USD chart shows a potential "AB=CD" or "Gartley Pattern" structure. There are clear harmonic movements forming an upward trend.
The green line pointing upward indicates the completion of the D point, where we might expect GBP/USD to rise further after the "CD" leg completes.
Opportunities and Risks:
Opportunity: If GBP/USD bounces off the lower trendline (support) and completes the CD leg, a new bullish move could follow.
Risk: If the price breaks below the D level or the channel, the harmonic structure could fail, leading to further downside.
Recommendation:
Wait for the completion of the CD leg (around 1.2350 or near the support line). This would provide a good entry point for a potential bullish move as the D point acts as a reversal zone.
The GBP/USD chart shows a potential "AB=CD" or "Gartley Pattern" structure. There are clear harmonic movements forming an upward trend.
The green line pointing upward indicates the completion of the D point, where we might expect GBP/USD to rise further after the "CD" leg completes.
Opportunities and Risks:
Opportunity: If GBP/USD bounces off the lower trendline (support) and completes the CD leg, a new bullish move could follow.
Risk: If the price breaks below the D level or the channel, the harmonic structure could fail, leading to further downside.
Recommendation:
Wait for the completion of the CD leg (around 1.2350 or near the support line). This would provide a good entry point for a potential bullish move as the D point acts as a reversal zone.
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