TimStuyts

GBPUSD the scenario's

FX:GBPUSD   British Pound/U.S. Dollar
179 0 7
Have a look at the bigger picture for context below.

snapshot


We saw an impulse higher for the GBPUSD             which might have completed the projected wave 4 we determined on January 21st.

GBPUSD


For today with NFP on the agenda I will be looking at the following scenario's.
-we either see some kind of flag pattern shown on the chart followed by a bearish break, this will be a sell trade with long term target 1.39.

-or we see a leg higher followed by a consolidation that will present the next buying opportunity shown by means of the green-red-green arrows.

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