According to technical analysis, looking at GBPUSD the success of bears moing price below 1.22000 support confirms the reversal of the general short term trend which was bearish. On a long term perspective, the overall trend is still downward. The return of the GBPUSD bulls by pushing price above 1.24 -1.27 resistance level may give some new hope but until 1.3500...
LONG short-term to complete the complex correction; 1.4700-1.4860
SHORT medium-term, where intermediate wave (3) concludes its course; 1.39120-1.3425
SHORT medium/long-term, where primary wave 3 completes its course - only valid if the primary impulse is not an A,B,C correction; 1.3625-1.3150
SHORT longer-term, where primary 5 completes the cycle degree...
