Gbp_usd
GBPUSD be careful. Do not rush into it now!I saw some analysys presuming GBPUSD would move up in the near future. However, now I do now see much evidence of possible strong upward impulse. We have 2 most probable options: 1st - there is a corrective Elliot wave which after impulse downward is possible, and 2nd - there is a new channel is being constructed, so the price would move inside of it. My advice is not to rush into it right now, but to wait for more proofs.
GBP_USD: Possible Short PositionsBack tested GBP_USD on a 2009 historical data.
1. 2009 Oct Data show a strong impulse move right after the pound crash.
2. 2020 Apr Data shows a similar strong impulse
Here is comparison chart between current and previous chart patterns.
Current level is on the middle of nowhere but could trigger trade set-up once it goes to the main resistance level.
Two trades with good risk reward ratio
