GBP/USD Bearish Harmonic Pattern Analysis GBP/USD Bearish Harmonic Pattern Analysis 🐻
🔍 Chart Overview:
The GBP/USD pair is presenting a bearish reversal scenario driven by multiple technical factors, including a well-formed bearish harmonic pattern, resistance rejection, and trendline breakdowns.
📌 Key Highlights:
🔺 Bearish Rejections:
Red arrows highlight multiple failed attempts to break above key trendlines and the resistance zone around 1.37800–1.38000, signaling strong seller interest.
🦋 Bearish Harmonic Pattern:
A completed harmonic pattern (likely a Gartley or Bat structure) indicates a potential reversal zone aligning precisely with the resistance area.
Price has already started to react downward from the D-point.
📉 Breakdown Structure:
Price broke below a key ascending trendline (now acting as resistance).
A fresh lower high has formed, confirming bearish momentum.
📦 Support & Target Zone:
Major support area marked between 1.35124 – 1.35300, aligning with historical demand zones and fib levels.
Target is set at 1.35124, which is both the harmonic pattern's projected leg and a strong confluence support.
🟠 Reaction Zones:
Orange circles highlight previous reaction points where price either bounced or reversed.
These zones confirm key liquidity areas where institutional activity may be present.
📊 Conclusion:
GBP/USD is respecting a bearish harmonic pattern and showing multiple signs of reversal from the resistance zone. If current momentum continues, price is likely to move toward the 1.35124 target zone. A break below 1.36000 would strengthen bearish confirmation.
🚨 Trading Note:
Traders should monitor for follow-through bearish candles and volume confirmation before entering short positions. Keep risk-managed with stops above 1.37800.
