GU Short and then LONG.
GBPUSD looks making a 5-3-5 Correction after a nice bullish ralley but WEEKLY GAPS should also be considered.
its making 4th leg of C.
As per rule the wave 4 should be 38% 50% or 62% of Waves 3.
In Current Scnerio it looks like 4th Leg is completed @ 38% Fib Retracement
As there are 3 Conxecutive rejections found @ 38 % Retracement level.
I hope it will go down to complete 5th Leg and then I will continue its
Dominent Trent that is UPTREND.
its a short time short then its a BUY.
It should not go below to 1.2100
its making 4th leg of C.
As per rule the wave 4 should be 38% 50% or 62% of Waves 3.
In Current Scnerio it looks like 4th Leg is completed @ 38% Fib Retracement
As there are 3 Conxecutive rejections found @ 38 % Retracement level.
I hope it will go down to complete 5th Leg and then I will continue its
Dominent Trent that is UPTREND.
its a short time short then its a BUY.
It should not go below to 1.2100
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.