GBPUSD with the world going downhill so has its currency, at this point the market is at a point of profit taking but all it takes is another rule/law to be enforced for another impulsive move, the world isnt stable neither is currency. Possible entries have been pointed out.
After seeing the precious analysis we see a short term sell within the reversal pattern. This analysis shows a more long term buy however on the Daily Time frame. What we would wait for is a break of the highs in the reversal pattern and a retest before buying to the upside.
When looking at the GBPUSD it is almost in a downtrend reversal pattern on the daily timeframe, though on the H4 time frame it also makes a mini reversal pattern short term to the downside. There has been a continuous LOW, HIGH, HIGHER LOW, HIGHER HIGH trend which has been broken, the trend has broken the reversal pattern to the downside and we are just waiting...
Loooking at EURUSD we can see after a long breakout of the daily downwards trends to the upside there is a new trend in progress, made of a Low,High,Higher and a Higher High. What we are waiting for is a close above the resistance as a retest to confirm that the trend is not going to change direction on us and for us to continue with the Buy trade.
I see after a short term pullback the market has broken a resistance and a one candle retest, waiting for a few candles continuation for another short term bullish growth.