(W) Bearish Harmonic Pattern // Cypher myth // IF=THEN ®

GBPUSD

At this moment RSI still above the previous bottom, forging an eventual bullish divergence...

The 113% extension right above the previous trend line from recent structure synced with previous low's Doji from March 2009, the price can hit that line and start to "recover", or break it and try to find another pressure zone below. There, we have an eventual Cypher pattern point C between the 127% extension and the 141% extension. Below this level we have another low from January 2002 and from there, its a free fall until historical low's from 1987 @1.04380$

CYPHER:
Point B:
38.2% to 61.8% XA
Point C:
127% to 141% ext XA
Point D:
78.6% XC
Target:
TP1 38.2% CD
TP2 61.8% CD

Safe Trades;