cashmachine01
Long

GBPUSD Looking Both Ways before crossing the street

FX:GBPUSD   British Pound / U.S. Dollar
25 0 3
On the GBPUSD             I am looking for a bounce on the bottom of the channel or a breakout.

Looking at the bull wave there is a wave 1, 2, extended 3. This pullback could be a wave 4 and the bounce a 5.

Longer time frame shows a likely bullish continued move back to the trend line resistance area .

Either way I am looking to add to my buy position at the channel support or close the long position and move to a short position if a breakout occurs of the channel.

This is for my trade journal only. Use your own system and good money management.

*Ignore the sell the breakout to the left that was related to the previous move.
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