GBP/USD monthly chart 5-0 bearish pattern

[NWG_student]

Hello, i just recognized a bearish 5-0 pattern on the monthly chart.

The retracement has already started and got to 38,2% retracement, do you think this pattern is still tradeable? can we expect a 50% or a 61.8 retracement?

are there anyspecialists in the field?

Thanks

 

[fxstrategist]

The GBPUSD has been falling during three straight months, but the 1.6000 has proven to be a strong support so far. Lets see if it manages to confirm breakdown of that level before the month ends.

 

[iMusingKiMi]

EUR/USD showing much much more weakness than the Cable. Projecting to trade on EUR/USD for SELL is much more better to focus on Cable. Sun Tzu teaches avoid enemy strengths and attack enemy weakness.

 

[bigdolly]

Wait for 61.8 retracement to be sure that the trend took its direction. Then you can freely enter it.