GBPUSD is about to reverse

Hi there,

So far GBPUSD is falling and i hope you are enjoying GBPUSD sell from top. It is about to hit the bottom where we can see double bottom and reversal for longer term for upside. This reversal can push GBPUSD upto 1.50 So dont miss this long.

Currently price is still in a bearish trend and on lower time frame it is still pushing for downside which means if you are going to but it too early you can end up with losing trades before you get profit on this long.

How You can trade on this chart.

1. It is still forming correction on lower time frame and pushing downside which means it can fall for one more short term wave on lower time frame. What you should look for before you go for buy it the breakout sharply for bearish trend. If you see that look for buy and add more on corrections for upside.

Or

2. Let the price keeps falling and let it sit at the bottom then watch for the double bottom and then look for buy. You can still sell it for short term on lower time frame for one more drop but make sure you trade with care.

In case we are not going to see any price action at 886 or at the previous low and GBPUSD keeps falling and break below the previous low then keep selling it on lower time frame for short term and keep taking profit after every short dont hold your sell at current price for longer term.

Clear break below the previous bottom will change the buy setup. then we will look for change in pattern formation.

Good Luck

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Comment:

Very nice bounce off.

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