GBPUSD - Bat Pattern Completion

This are 2 potential setups on GBPUSD.

The first one is an imperfect bat which could turn anytime soon.

The reason it is imperfect is because the B point has slightly exceeded XA 0.50.

However, it did not touch 0.618 and it is still technically still a Bat.

I have my reservation on this as a B point between 382 to 618 could result in a Crab.

The next few days are critical, if GBPUSD reverses and closes above the PRZ, this bat can still play out well at least to TP1.

If it continues to fall further, I expect a potential crab around 1.22.

Bat Pattern Execution

PRZ 1.2720-1.2730

SL 1.2550

TP1 1.2940

TP2 1.3080


Crab Pattern Execution

PRZ 1.2270 - 1.2280

SL 1.2000

TP1 1.2720

TP2 1.2920