GBPUSD, Potential To Complete Major Descending-Triangle!

Hello,

Welcome to this analysis about GBPUSD and the 12-hour timeframe perspectives. GBUSD in the recent times initially stopped with its downtrend and showed up with a reversal move to increase with bullishness in the structure and to bounce off the 1.3 mark. Now on the broader perspective as seen in my chart GBPUSD is developing this main descending-triangle-formation with the coherent wave-count within the formation and the waves A to C already completed. The wave B has been completed with this ascending-triangle and the wave D is now developing a local bull-flag which is the actual source of the main wave E to follow up and finally complete the whole wave-count, if GBPUSD then manages to bounce within the lower boundary and finally breakout above the upper boundary of the descending-triangle-formation this will be the setup for further continuations and will activate the Descending-Triangle-Target-Zone as seen in my chart. Once this zone has been reached it has to be elevated how GBPUSD continues from there on and in this case it will be a crucial consideration on if GBPUSD firstly pulls back or manages to form a formation in this structure, it will be an important establishment ahead.

In this manner, thank you for watching the analysis, all the best!
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Information provided is only educational and should not be used to take action in the markets.