The rate hike talks cause increased intra-day as we approach decision date and as long as the trading channel you see in the chart remains valid, I see potential in $GBPUSD.
The question is where will the price rally from?
Will it rally from the 50 line towards the AB=-CD and Bat completion zone - Near 1.58?
Or will it decline before that, to complete a on the 200 line and the 1.53 support zone?
These are the two scenarios I'll monitor over the coming days/weeks.
There are plenty of ways to trade these scenarios. One example is to take the Aggressive C entry for the blue , which means selling as long as the price remains below 1.565 with anticipation that the price will decline all the way down to complete the pattern.. That's one way.
How will you trade it?
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