GBPUSD is showing signs of a potential corrective move after completing wave (5) on the 15-minute chart. The pair has started to pull back from its recent high, indicating the beginning of a wave (c) correction.
Key Fibonacci levels to watch during this correction:
1.27943 (100% Fibonacci extension)
1.27576 (1.618 Fibonacci extension)
These levels present potential targets for the wave (c) correction. Traders should consider entering short positions as the price approaches these levels, with tight risk management in place. Keep an eye on the price action to confirm the continuation of the downtrend. Stay vigilant and trade with caution!
Key Fibonacci levels to watch during this correction:
1.27943 (100% Fibonacci extension)
1.27576 (1.618 Fibonacci extension)
These levels present potential targets for the wave (c) correction. Traders should consider entering short positions as the price approaches these levels, with tight risk management in place. Keep an eye on the price action to confirm the continuation of the downtrend. Stay vigilant and trade with caution!
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.
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.