EverythingForex

UPDATE #1: GBPUSD: BREAKOUT! But be cautious. STOP Sign Up Ahead

FX_IDC:GBPUSD   BRITISH POUND / U.S. DOLLAR
In my last post on this pair (see Related Ideas: "GBPUSD: BREAKOUT! But be cautious...STOP Sign Up Ahead! "). I talked about the wave C of an ABC corrective pattern having started and that the current wave was only wave 1 of that 5 wave wave C movement up. And that there was a breakout of a small consolidation but that breakout was short-lived because of a pending wave 2 of the wave C. Well, that wave 2 has already started as predicted and now there is also a bullish cypher that may mark where the wave 2 will end. If it should get that far and fill the cypher , then I will look to buy LONGS and get in on the wave 3 up. But for now, just waiting.....

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