#GBPUSD
In the time of 4 hours, by checking the monthly time on 2 static and dynamic resistances, we are in the range of 1.21884, and checking the movement and choosing targets assuming the correction range is the best strategy.
It is expected that by touching the range of 1.20213, we will reach the target of 1.19646 in the second range. The second and third target range between 1.19646 and 1.19211 is a dense resistance range, and considering the coverage of the previous 3 waves in this range, it is completely It is thermal. On the other hand, if the range of 1.19211 is touched, a retracement with 61.8 qibu in the range of 1.19294 can complete a zigzag. And finally, if we reach the bottom of 78.6 fibo, we have another area to complete another percentage of zigzag. Areas between Fibo 61.8 and 78.6 can be a range to form or complete a divergence to begin with. (following the price movement is the best option to better cover the steps)
It is expected that by touching the range of 1.20213, we will reach the target of 1.19646 in the second range. The second and third target range between 1.19646 and 1.19211 is a dense resistance range, and considering the coverage of the previous 3 waves in this range, it is completely It is thermal. On the other hand, if the range of 1.19211 is touched, a retracement with 61.8 qibu in the range of 1.19294 can complete a zigzag. And finally, if we reach the bottom of 78.6 fibo, we have another area to complete another percentage of zigzag. Areas between Fibo 61.8 and 78.6 can be a range to form or complete a divergence to begin with. (following the price movement is the best option to better cover the steps)
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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.