- GBP/USD made nice higher Highs and bullish engulfing on monthly chart
- Currently in ABC correction with wave C to complete
- Wave C should at least correct to 38% Fib Level, but deeper correction is more likely
We have multiple support at around 1.26
Rising Trendline
Falling Channel/TL Retest
Horizontal Support
50% Fibonacci Level - We are currently short since yesterday. Looking for significant price action around the two levels and will close the short around there
- IF major price action occurs around this level, a long position will be opened to ride the Wave 3 of Wave 3 to new highs
- Watch out for GBP News, timing should line up with GB Elections!!
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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.