08-20-2019 GBP/USD possible Long scenarios
Possible uptrend / downtrend scenarios.
I believe the Cable is up-trending.
Point (1) may act as an absolute bottom of the year (Only 70-80 pips higher than the lowest of the Cable)
Point (2) looks like 2 of Elliott wave
Cable is blocked by major supply zone 1.218XX - 1.220XX.
1.215XX area will play an important role to determine if the Cable is trending down or up.
I believe the Cable is up-trending.
Point (1) may act as an absolute bottom of the year (Only 70-80 pips higher than the lowest of the Cable)
Point (2) looks like 2 of Elliott wave
Cable is blocked by major supply zone 1.218XX - 1.220XX.
1.215XX area will play an important role to determine if the Cable is trending down or up.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.