FX:GBPUSD British Pound/U.S. Dollar
Hey traders! As predicted by the wave count, we have a continued drop into the final ipulsive C wave of combination wave-(Z). I did not get the pullback I was looking for for that drop, so I sat it out and waited for another opportunity. Now that we have established potential first wave of the final impulse, this is our invalidation level and can be used as a SL. Any movement above this level will invalidate the trade and introduce uncertainty, therefor I will be OUT. Otherwise, I expect this to reach the crab/shark level. Trade is active immediately at market. Happy trading!
Trade closed: stop reached: Didn't see the swift impulse this trade was aiming for, however I', still upholding short bias on this pair. Instead of a 5 wave impulse, we're seeing more of a sideways correction as is common with FX. See the updated wave count here: