Short

One step before the channel breakdown

Updated

After the coronavirus shock, the GBP has made its upward correction. The structure is clear, three-wave Zigzag. The C wave was weaker then the wave A. Rising channel's middle zone was strong resistance, this sign supports the pound bearish view also. So waiting for the breakdown the channel up to 1.20 - 1.21 where the next support lies. It would be lucky if there will be a breakout test. I wish it for me and us.:)

Waiting for the momentum and the break. Be patient!!!!

Note

Here is the breakout retest:

Note

sorry, here is the gbpusd chart:

MoodandMarkets

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