GBPUSD Turning Bullish, Bat Pattern Fails, Alt Bat Forms

GBPUSD Turning Bullish, Bat Pattern Fails, Alt Bat Forms

1. GBPUSD is turning bullish on monthly time frame which can lead to 2 possibilities:

• Bat pattern that has been formed but not completed yet (0.886 XA not touched yet) gets completed and then we get a bearish move
  
• OR as 200SMA is just above, we get a bullish move in coming 2 weeks to complete ALT bat pattern at 2.618 Fib extension of AB which coincides with 200SMA nicely. Then it starts to retrace a bit to form a bearish candle.
  

2. I am expecting option 2 as 0.886XA has not been touched yet and the price has been forming a flag pattern too. That can give us a Long position on short time frame if this breaks 1.30115 level.

Bình luận:

as expected, the price is getting pulled towards 200SMA