Price action on the GBP/USD (3H timeframe) has shown a Change of Character (ChoCH), indicating a potential bullish reversal. After forming a strong base, buyers have stepped in, pushing the price above the recent structure.
Key Highlights:
ChoCH Breakout: A shift in market structure suggests bullish momentum.
Targeting Supply Zone: The next key level of interest is around 1.2750 - 1.2800, where sellers may step in.
Wave 3 to Wave 4 Transition: Aligning with Elliott Wave Theory, this move could be part of a corrective structure before further upside/downside.
Key Highlights:
ChoCH Breakout: A shift in market structure suggests bullish momentum.
Targeting Supply Zone: The next key level of interest is around 1.2750 - 1.2800, where sellers may step in.
Wave 3 to Wave 4 Transition: Aligning with Elliott Wave Theory, this move could be part of a corrective structure before further upside/downside.
Related publications
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.
Related publications
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.