GBP/USD: bearish “Crab” pattern

GBP/USD: bearish “Crab” pattern

2020-06-05 • Updated

On the D1 chart of GBP/USD the price action conforms to the bearish “Crab” pattern. Currently the market is trying to find the point D. The difficulty with harmonic pattern is that it provides a potential range of reversal and not the exact level. For GBP/USD, this range is between 1.2650 and 1.2760.

Notice that the pair came to the resistance of the 200-day MA and the previous highs around 1.2660. On the H4, there’s bearish divergence. As a result, the pair may test support of the short-term channel around 1.2570. The next levels to watch on the downside will be 1.2520 and 1.2425.


GBP/USD will fall if the US Nonfarm payrolls are better than expected.

Trade ideas for GBP/USD

SELL 1.2625; TP 1.2580; SL 1.2640

SELL 1.2550; TP1 1.2530; TP2 1.2430; SL 1.2565




Euro May Start a Rally
Euro May Start a Rally

On October 28 European Central Bank held a press conference. Inflation has hit Europe and now the time has come for more profound steps in the fight with the post-pandemic economy. What should we know to trade these events?

The GBP setups ahead of CPI
The GBP setups ahead of CPI

The performance of the British pound against other majors has grabbed a lot of attention during the last couple of weeks.

Latest news

Virgin galactic: Buy When Everybody Sell
Virgin galactic: Buy When Everybody Sell

Latest news On September 29, Virgin Galactic announced that the Federal Aviation Administration has approved launches resume after an investigation about why its spaceship veered off course while descending during a July flight with founder Richard…

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera