GBPUSD: Impending Bullish momentum
Hi,
GBPUSD price last week was bearish, however, I see this declined (in 4H timeframe) unfold as correction to its preceding rally (wave 3). This correction I labelled as wave 4.
đź“šAccording to Elliott wave theory, once wave 4 is completed, an impulse called wave 5 emerges (this wave 5 is in opposite direction to wave 4).
Now in GBPUSD I expect an impulse to the upside to emerge after this current wave 4 ends.
Regards!
GBPUSD price last week was bearish, however, I see this declined (in 4H timeframe) unfold as correction to its preceding rally (wave 3). This correction I labelled as wave 4.
đź“šAccording to Elliott wave theory, once wave 4 is completed, an impulse called wave 5 emerges (this wave 5 is in opposite direction to wave 4).
Now in GBPUSD I expect an impulse to the upside to emerge after this current wave 4 ends.
Regards!
Trade active
Buy trade activated @ 1.27585Modify SL = 1.26600
Target ≥ 1.3000
NB: I have updated my wave count on GBPUSD which I will show in my next post.
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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.