GBP/USD Closing on Bearish Butterfly PRZ near 1.54

24 ביולי 2013

After breaking higher from a rising wedge developing throughout the balance of July (presumably catalyzed by the Carney-led BoE's new-found and unanimously declared hawkishness), Cable is move into the Potential Reversal Zone (PRZ) near 1.54 of a bearish harmonic Butterfly that has developed over the same duration.