Hi traders,
The GBP/USD is keeping its bullish momentum and now approaching a key resistance trend line (red) which could be a bouncing spot. A break below the support trend line (blue) could complete wave A (blue).
Once the GBP/USD completes wave A (blue), price is expected to make a bearish retracement within potential wave B.
The GBP/USD seems to be building a last wave 4 (orange) in wave 5 (green) of wave A (blue). That could change if price hits the Fibonacci levels of wave 5 vs 1+3 or if price manages to break below the support zone.
For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.
Good trading,
Chris Svorcik
Elite CurrenSea
Leave a Reply