EURGBP Potential Bearish Black Swan Pattern And Trade Setups

We like trading Black Swan Harmonic Patterns especially when the pattern is in the same direction as the main trend.

Another good part of this trade is the pair itself. We have been selling the pair since mid-August. As we have published in our previous forecast, the EURGBP pair is a typical “sell the pullbacks” pair.

Our last short term trade was short at 0.85280 – Bearish AB=CD- and short at 0.84000 – trendline breakout -. Our target level was 0.82800 and we have closed our short positions.

Now we look for a re-short opportunity.

We see two selling opportunities as described in the chart.

1- The breakout of the trendline – est. 0.83400 –

2- Potential Bearish Black Swan pattern and retest of the broken structure at 0.84300.

We keep our medium-term target unchanged at 0.81800 and 0.80500.