GBPUSD, Massive Broadening-Wedge To Finalize!

Hello,

Welcome to this analysis about GBUSD and the 12-hour timeframe perspectives. As when looking at my chart we can watch there how GBPUSD moved on to develop this major broadening-wedge-formation with a coherent wave-count reaching from A to E. As GBPUSD finalized the wave-count with the last wave-E a substantial bounce from there on emerged bringing GBPUSD above the 65- and 100-EMA. Now GBPUSD is moving on to form a main triangle-formation above these EMAs, this whole triangle formation will be completed when GBPUSD holds on to the EMA-supports and bounces in the region. A bounce above the upper boundary as it is seen in my chart will finalize the whole formation and GBPUSD will move on to continue further as well as activate the targets seen in my chart. Once the targets have been reached the situation needs to be elevated again, it will be an important journey ahead.

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Information provided is only educational and should not be used to take action in the markets.