On the GBP/USD daily chart, the implementation of the targets in the “Crab” and AB = CD patterns resulted in the rebound of the prices. After a short consolidation, the bulls launched the counterattack with the intention to test the upper boundary of the upward trading channel.
If they succeed, the risks of the continuation of the rally towards 1.255 and higher will increase.
On the GBP/USD hourly chart, the inverted “Shark” pattern is still relevant. Its 78.6% and 88.6% targets are located near the 1.2475 and 1.252 levels. Most likely, the “bears” will try to protect these levels.
Recommendations:
SELL 1,2475 SL 1,253 TP 1,2315,
SELL 1,252 SL 1,2575 TP 1,2315.
Origin: FX BAZOOKA
