Daily projection for GBPUSD. BULLISH BUTTERFLY
GBPUSD just broke a trendline and established a new low on DAILY and WEEKLY charts. It is currently pulling back up and has completed a bullish butterfly harmonic. I am BULLISH on GU to the 1.38 price level and expect a retest of the lower trend line just established.
<ALTERNATE PLAY>
GBPUSD is currently at the .236 retracement level after breaking an uptrend. A continuation of the downtrend at this point occurs and validates the new trend. BEARISH to 1.308
GBPUSD just broke a trendline and established a new low on DAILY and WEEKLY charts. It is currently pulling back up and has completed a bullish butterfly harmonic. I am BULLISH on GU to the 1.38 price level and expect a retest of the lower trend line just established.
<ALTERNATE PLAY>
GBPUSD is currently at the .236 retracement level after breaking an uptrend. A continuation of the downtrend at this point occurs and validates the new trend. BEARISH to 1.308