Looking promising for longs needs to exceed 0.8888 to ensure not just in C of 4 of 5 and 5 down complete
I reckon lot of ppl counting $GBPUSD from the lows as new impulse ...but this count is equally valid .
Just made a nice B high on high selling vol judging by wick may only pullback to 61.8 fib
Could be working on LD similar looking chart to $gold Barrick
The path is clear after 3 down from highs trgt at C=A in pretty short order
The bullish versus bearish count only 3 down with a possible failed V th could be very bullish ..
If we keep going straight up with no pullback actually more bearish
Not a clean 5 down to new lows BUT on the move down from 2011 highs to 2020 lows C=0.786A ..Could be working on a leading diagonal up..probably most bullish count which would have us having completed 1 o1 1 up and in 3 of 1 currently.
Watching carefully , resistance is clear . The dollar has made an irregular top meaning unless we get a failed v (very unusual) new highs in store but not necessarily form this move.
Cannot see immediately bullish option for $xauusd here the sharp rises in the shiny metal happened when this ratio peaked. Does it look like it is peaking?
Key area for bullish count C=A right here ...now for new highs need to overcome .9110 and key .9270
Getting interesting month end coming up soon ..note parallels with 2008