JC_Saints
Short

Structure resistance + cluster of fibo

FX:GBPUSD   British Pound / U.S. Dollar
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9
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Looking to play short on Monday against 1.5520-1.5560 to play trend continuation to 1.5420 even 1.5330
Now, bigger picture, if the Cable has indeed completed a wave 4, one could be looking for new lows with a nice structure area just below 1.5200 as target. Past 1.5660, wave count is wrong.
Can you comment on the wave count from a larger degree perspective? What is the high on the 17th in EW terms?
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JC_Saints timwest
Tough call honestly, as it could be the end of a correction which would call for a new low. However, I tend to believe that the market is still within that correction and I like the A, - abc - irregular B count. The Jan 17th being the end of of the b, and either we are still within the c of B or have completed it April.
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