Hello friends
In the GBPUSD currency pair, we see the formation of a clear 5-wave pattern.
Waves 1, 2, 3, and 4 are clearly formed.
Wave 5 is probably completed and divergence can be seen in wave 5.
Usually, the presence of divergence is one of the indicators of wave 5.
I could not count wave 5 completely, but I am sure that we are at the end of wave 5.
This issue is associated with price divergence and concentration and reaching a trend resistance (1.2800).
So we can check the theory of the beginning of a downward trend.
Therefore, I expect a downward trend.
This decline can continue until 1.2500 and 1.2350.
Be successful and profitable.
In the GBPUSD currency pair, we see the formation of a clear 5-wave pattern.
Waves 1, 2, 3, and 4 are clearly formed.
Wave 5 is probably completed and divergence can be seen in wave 5.
Usually, the presence of divergence is one of the indicators of wave 5.
I could not count wave 5 completely, but I am sure that we are at the end of wave 5.
This issue is associated with price divergence and concentration and reaching a trend resistance (1.2800).
So we can check the theory of the beginning of a downward trend.
Therefore, I expect a downward trend.
This decline can continue until 1.2500 and 1.2350.
Be successful and profitable.