GBPUSD
D1 - A 3-wave structure has been formed, which can lead to further downward movement. It is also worth considering that the structure can go into the ABC formation, and after correction, continue the upward movement to update local highs.
H4 - You can see the formation of a triangular structure, with a break through the lower trend line. To enter, it is better to wait for fixation behind the trend line; a more reliable entry point will be from a retest of this level and with minimal risk on the idea. Locally, downward movement can be expected to levels - 1.24131
What can you expect?
You can consider entering from these levels 1.26281 with a target of 1.24131
Cancellation if the price breaks the maximum of the 2nd wave - 1.27615 during a retest, the exit is best considered from fixing to the trend level and forming ABC
Long
Target 1.26009 - 1.25481 - 1.24931 - 1.24131
D1 - A 3-wave structure has been formed, which can lead to further downward movement. It is also worth considering that the structure can go into the ABC formation, and after correction, continue the upward movement to update local highs.
H4 - You can see the formation of a triangular structure, with a break through the lower trend line. To enter, it is better to wait for fixation behind the trend line; a more reliable entry point will be from a retest of this level and with minimal risk on the idea. Locally, downward movement can be expected to levels - 1.24131
What can you expect?
You can consider entering from these levels 1.26281 with a target of 1.24131
Cancellation if the price breaks the maximum of the 2nd wave - 1.27615 during a retest, the exit is best considered from fixing to the trend level and forming ABC
Long
Target 1.26009 - 1.25481 - 1.24931 - 1.24131