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cmc

long term analysis

Short
British Pound / U.S. Dollar (FX_IDC:GBPUSD)  
cmc Updated   
FX_IDC:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis
16
2
trendanalysis chartpattern waveanalysis
Hi,
In my opinion, we are in wave 4 of a bigger wave C.
The first chart is monthly. I'm going to add smaller timeframes
Comment:
snapshot
As you can see, wave 4 consists of an abc pattern
Comment:
In turn, wave c consists of a impulse in 5 waves. The theory says the impulse is over when wave 4 is fully corrected. This is a bit far (1.26), so the first sign would be if the line that combines wave 2 with wave 4 is stacked. Now we are in that moment. Let's see the price reaction
snapshot
Comment:
Wait a wave2 up, at least 50% of wave 1
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