This is my 5-wave analysis speculation for the GBP_USD.
Looking at the current structure suggest that it is now planning to move higher high.
This is based on the Daily Chart.
The structure tells us that 1.34555 level will be the new level of support.
The current structure of the chart is intentionally making a flag pattern.
Support level at 1.32331 will hold the flag pattern structure which already tested last month. (nov.28)
A buy at the support area 1.32331 is a very good risk reward ratio. (4:1)
Going towards the previous peak (1.36435)
Looking at the current structure suggest that it is now planning to move higher high.
This is based on the Daily Chart.
The structure tells us that 1.34555 level will be the new level of support.
The current structure of the chart is intentionally making a flag pattern.
Support level at 1.32331 will hold the flag pattern structure which already tested last month. (nov.28)
A buy at the support area 1.32331 is a very good risk reward ratio. (4:1)
Going towards the previous peak (1.36435)