GU has been in a daily correction since August,2018.
Based on EW count it has been making a flat correction and now C leg of that flat is about to be completed.
Based on price action I'm still anticipating one more move UP to break previous high and then make its way down.
As price action trader, I will use of supply & demand, S/R to find best key levels to trade . Here from Swing Perspective I have marked two Swing Key Levels to trade on Demand Side. First one is @ E:1.23868 & SL: 1.23542 which is just below support level and second one is @ E:1.22305 & SL: 1.21002 with Target of 1.30445
As You Can see the chart of GBPUSD
break the broadening formation pattern
You can short on current price below is the target
Note: This is only for Educational Purpose this is not an Investment advice.
Please support the setup with your likes, comments and by following.
Subscribe My YouTube Channel (bit.ly)
Join Our Crypto...
GBPUSD on FX can be Sold at 1.28600 with SL of 1.29315 and Target of 1.25260. Its a good opportunity and has consistently taken resistance at down-trending line. Take advise from your financial advisor before investing.
a clear divergence have been formed between market trend MACD indicator which indicates a strong reversal of trend as market has been consolidated for a long time on pivot point
any break could cause a good fall for sterling with a target of 1.2778,1.2699 and 1.2564
alternate scenario any break above 1.2989 may continue the buy trend