Although a lot of traders are looking to short GBPUSD, the technical setup doesn't show any signs of weaknesses on this pair. The market has hit Target1 2times on the Bullish Gartley Pattern(yellow) setup. Will there be a Type3 Gartley Pattern? Well, I doubt so, it is more likely to have a Bullish Butterfly Pattern(blue) than a Type3 Garley. I'm waiting for a reversal for a buying opportunity at 1.3801, the additional benefit of trading at the Butterfly Pattern will attract Price Action Trader to engage to long at 1.3800 and that will bring 2 different groups of trader, trading in 1 single direction.
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🏦 Qualify Junior Analyst within 90days
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Get into our 15mins workday community
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Live session & Trading Tips on the GO
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.