GBPUSD has rallied back through resistance zone around 1.2520/30 from the day's low. Structurally, GBPUSD is seen to be in a corrective phase since 1.2800 handle. The single currency pair is on its way to produce an A-B-C drop towards 1.1950 levels. Also note that fibonacci 0.618 retracement of the entire rally between 1.1414 through 1.2800 is also passing through 1.1969 levels. High probability remains for a bullish bounce, if prices manage to reach through 1.1950/60 mark. Probable wave counts are suggesting that GBPUSD might have completed Wave A around 1.2250, Wave B might be complete at 1.2530 or could reach 1.2550. If the above is correct, GBPUSD should resume Wave C lower towards 1.1950 soon.
Strategy:
Short against 1.2800, targeting 1.1950
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I realy hope that you are wright. I have some sell on 1.121, so or I hope closing small loss or if you are correct small profit.
ExclusiveMarkets
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@Marcel69, short from 1.121? i think maybe 1.21. You held on for long. This short was generated after 1.2800 handle. Consider joining out complementary channel for real time potential trade setups. t.me/exclusivemarketspublic
Marcel69
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@ExclusiveMarkets, due to a message about lockdown/corona I dont know what happens. Thanks!
ExclusiveMarkets
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@Marcel69, At times for a while prices might drift against due to some fundamental news. Eventually the waves would complete around 1.1900