GBPUSD: Impending Bullish momentum
Updated
Hi,
GBPUSD price last week was bearish, however, I see this declined (in 4H timeframe) unfold as correction to its preceding rally (wave 3). This correction I labelled as wave 4.
đź“šAccording to Elliott wave theory, once wave 4 is completed, an impulse called wave 5 emerges (this wave 5 is in opposite direction to wave 4).
Now in GBPUSD I expect an impulse to the upside to emerge after this current wave 4 ends.
Regards!
GBPUSD price last week was bearish, however, I see this declined (in 4H timeframe) unfold as correction to its preceding rally (wave 3). This correction I labelled as wave 4.
đź“šAccording to Elliott wave theory, once wave 4 is completed, an impulse called wave 5 emerges (this wave 5 is in opposite direction to wave 4).
Now in GBPUSD I expect an impulse to the upside to emerge after this current wave 4 ends.
Regards!
Trade active
Buy trade activated @ 1.27585Modify SL = 1.26600
Target ≥ 1.3000
NB: I have updated my wave count on GBPUSD which I will show in my next post.
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