Short

GBPUSD- Bearish Triangle...(D-Wave to start)

As per monthly chart we are having ABC...A-leg started@2.1161 in 2008 and ended@1.3502....B-wave was W-X-Y structure which had Y-wave ended@1.7191 finishing B-wave & currently we are moving into C-wave....In C-wave- we are into 4th of (3)rd wave...Let us not get confused because I am talking from point of elliottician. What matters is where are we & how we are going execute the trades if opportunity arises. So, currently we are into triangle formation which had completed its internal c-wave@1.44513...so we shall start d-wave & one can trade d-wave which shall touch rising trendline from b-wave as per my expectation.
Once pair dips below@1.42979--we could sell & book our profits when it lands on rising trendline. Regards, Abhishek

WaveTalks

Best Regards,
Abhishek H. Singh
Growth Director - TradingView India

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