I remain broadly constructive GBPUSD but price could pull back from the current level, which is defined by 2020 VWAP. I’m showing 2 technical interpretations. An Elliott interpretation is that 5 waves up are complete or nearly so and that price should pull back towards the area of the prior 4th wave. 1.2460s, which is a clear horizontal level and near VWAP from the June high and June low, would be of interest for support.
Director of Technical Research at Krilogy, author Sentiment in the Forex Market
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
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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.
Director of Technical Research at Krilogy, author Sentiment in the Forex Market
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
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.