British Pound / U.S. Dollar

Long

Updated

GBPUSD - ABCD Move

I have taken a long position on this pair, but had to cancel it with a minimal loss. This may not be the perfect AB=CD as it does not conform to Fib principles, but assuming that the AB Leg is equal to CD leg, it brings this pair to a very strong support.

Trade with care

Note

Broke and intermediate support - heading to base -

snapshot

Note

This pair is now moving closer to the major support

Note

Now at support - I don't see any bullish signals as yet

Note

Order cancelled

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