Harmonic Trading Weekly Review. Market Reactions and Future Projections

We close the week with heightened technical activity across major currency pairs, commodities, and indices, marked by the clear presence of harmonic formations in several assets. Some patterns have already completed, with price reacting accordingly to projected levels, while others remain in the projection phase, signaling potential reversal or continuation zones for the upcoming week. This analysis focuses on the interpretation of fractal structures, the confluence of Fibonacci levels with advanced harmonic patterns, and their short- to medium-term implications.

Double Top Formation Drives Downside Pressure

GBPUSD remains under close watch amid the confirmation of a double top formation that could drive the pair back toward 1.2831, representing a 1.9% retracement below the daily fractal support at 1.3084. The pair is currently showing rejection from the daily fractal resistance at 1.3191, maintaining short-term bearish pressure.