aibek

GBPUSD. Possible wave count

FX:GBPUSD   British Pound/U.S. Dollar
Cable is in a multi-month consolidation.

we have two possible scenarios.
1) blue marks - we are in a ABCDE contracting triangle.
waves D and E are pending as highlighted in blue arrows.
2) yellow marks - we are in a wave C of ABC flat correction.
wave C can hit 1.3559-1.3987 (C=1-1.618 of A)
Main thing - this is just a correction before downtrend resumption.
babaika
3 months ago
I believe that blue lines its a question of time. Triangle my favorite pattern.
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