By escaping from the contraction triangle and breaking the descending channel, it can touch the specified areas by completing the pullback to the broken swing. Also, considering that 23% of the fibo of the previous wave has been corrected, this return wave can touch the previous ceiling.
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According to the moving direction, it is ascending.
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Now the GBPUSD currency pair is stabilizing after breaking the resistance to continue the buy position.
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The target was touched on the fourth pound to the dollar.
According to the analysis in daily time, it is in the movement path around the first profit limit. Breaking the areas (linear targets are not considered) which is clear, usually the movements can be slowed down and after the spring is stretched, make a sharp move to break it, otherwise it can completely reverse the movement... Keep this point in mind.
Breaking the areas (linear targets are not considered) which is clear, usually the movements can be slowed down and after the spring is stretched, make a sharp move to break it, otherwise it can completely reverse the movement...
Keep this point in mind.