FX:GBPUSD   British Pound/U.S. Dollar
324 2 5
The pound is clearly in an impulsive wave 3 and although I was mainly focused on selling the pound against the AUD and NZD, I will definitely sell GBPUSD             after a significant reversal. I believe 1.39 is the next target short but ideally we see a clear reversal from 1.41 zone. I want to see a wave 4 correction towards 1.45-1.46 and then look for a sell for wave 5.
Short term we might see a bullish break out of the bearish channel, however this will be against a strong trend so I want to see some kind of consolidation after the break before I consider a buy trade.
snapshot


I will update this pair more frequently since I believe it will present several high probability trades in the near future.

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TimStuyts
10 months ago
snapshot


Sorry guy's, for those who are focused on the wave count, Blue wave 3-4-5 are included. Those were missing on the first charts.
Good trading to all!
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TimStuyts
10 months ago
We saw the reversal from the 1.41 zone which was my ideal scenario. I will wait for this impulse higher to settle and wait for a consolidation and continuation before buying the GBPUSD towards 1.455. (1.45-1.46)
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