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