GBPUSD Technical Strategy: Temporary view
Elliottwave Count: Either wave 3 or alternate wave C is due.
GBPUSD (Great British Pound vs US Dollar ) is looking one more high towards 1.2868 horizontal weekly resistance. Also on smaller timeframe, pound is suggesting one more high in count. This count can be either wave 3 or on alternate this can be wave C. As we have first leg up was five wave impulse, we are expecting correction atleast towards 1.2868. We will mark that move as reversal or correction on that resistance only. But looking for trading opportunity, we have nice long setup coming up.
We are looking for attractive level to go long on pound vs US dollar with limited stoploss.
-- By HoagTrading.com (@Hoagtrading)