TimStuyts
Long

GBPUSD according to plan

FX:GBPUSD   British Pound/U.S. Dollar
276 3 4
The GBPUSD             moved nicely according to plan at the end of last week. For now I prefer an ABC correction to be in progress where wave B is currently unfolding. Nevertheless it is too soon to tell whether this unfolds in a sharp correction or a more complex combination. I will therefore wait for this consolidation to settle and buy the break. 1.455 is my preferred minimum target.

for my previous post and context see below:

GBPUSD


1hour chart:

snapshot


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TimStuyts about EURUSD 2 10 months ago
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TimStuyts about GBPUSD 2 10 months ago
TimStuyts
10 months ago
snapshot


We saw the anticipated bullish break.
Reply
jh34 TimStuyts
10 months ago
Do you think it'll retrace back down and retest that trendline than continue to be bull?
Reply
TimStuyts jh34
10 months ago
If it retraces or makes a smaller degree consolidation you can enter based on a lower time frame break. (same approach)
Reply
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