Long
Gbpusd breaks through the effective upper fractal of 4h, which is represented by a green horizontal line. At present, it is in the middle of three waves of 1h, and there is still a little distance to the end. The current position is about 0.618. Based on the standard model, three waves will end between 0.786-0.886, then callback, and finally reach five waves. At present, ac shows a bullish green line of 3 for 1h, and ao is above the 0 axis, which is expected to continue to rise.
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.