GBP/USD CABLE
As you can see we are in an uptrend. currently wave 4 has completed and we can see 5 insight. Price has been respecting upward trendilne and has failed to breakthrough it on three occasions showing bullish momentum is still there. support has been found on the 38% fib as well as daily support. we failed to break 1.30 mark but it seem like the bulls may carry enough steam to break through this psychological monthly resistance. currently a countertrend line has been broken to upside on one occasion, the current counter trendline below the 1.30 monthly resistance should also be broken to the upside. I wouldn't enter the trade till ma's have crossed over as well as seeing a candlestick close above the counter trendline.
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.