GBP/USD - Downtrend Resumes below 1.2466
The 15-minute timeframe is now a downtrend, we saw a completed wave structure yesterday. The pullback to that move is valid and we expect a follow-through. Having said that, the 1Hr timeframe is still not 100% Bearish, we need to see a break below 1.2466 before we can safely say the H1 is now bearish.
The alternative Scenario is this; If the price should fail to break below 1.2466, and it proceeds to break above the (c) high 1.2506, we will reverse the position and buy immediately.
Right now we are bearish and we sell or do nothing.
The alternative Scenario is this; If the price should fail to break below 1.2466, and it proceeds to break above the (c) high 1.2506, we will reverse the position and buy immediately.
Right now we are bearish and we sell or do nothing.
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