? GBP/USD Bounce Starts Bullish ABC Wave Pattern ?

2 min read

Hi traders,

The GBP/USD made a bullish bounce at the support trend line which could fuel a continuation of the larger triangle pattern as indicated by ABCDE (purple) wave patterns.

GBP/USD

4 hour


The GBP/USD seems to have completed a bearish ABC zigzag (blue) pattern at the support zone (green), which could complete a potential wave D (purple). Price could now be ready to move up and test the Fibonacci levels of wave E v D.

1 hour


The GBP/USD is testing the Fibonacci retracement levels of wave B vs A (blue), which could act as a potential support zone for an ABC zigzag higher. A bullish reversal could confirm an ABC wave pattern.

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Good trading,
Chris Svorcik
Elite CurrenSea

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