GBPUSD, two opposite trades.
AB=CD completed already. Ratio confluence is evident. Price has reached the 1.618 level before retracing. Price is now in channel. When broken to the downside. The initial targets of the initial impulse leg stand (these come right at major structure support/resistance. When broken to the upside, a retest is quiet possible ---> after that I prefer a short trade again.
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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.