GBPUSD
In our previous projection (see link below), market was predicted to visit 1.40000 area with a probability to break the level and continue lower.
Instead, price respected the level and bounce back . The Elliott Wave pattern suggests Market has completed 4-waves and has a high probability to continue higher for a 5th Wave.
Elliott Wave bullish move appears to form confluence with market structure which have been developing High Highs and Higher lows (in a channel) since 12th of April.
Trading decision: Potential Buy with price objective at 1.4375 area.
#For Educational Purpose NOT Investment Recommendation.
Trade active:
Looks good!
Trade closed manually:
The market is still bullish, but I have to close it. I'm impressed!
