GBPUSD, Completes Major Descending-Triangle, Perspectives!

Hello,

Welcome to this analysis about GBPUSD, we are looking at the 4-hour timeframe perspectives, the recent events, the established formational structure, and what we can expect in the upcoming times. As I discovered recently GBPUSD has formed a paramount formation in this structure, which is a descending-triangle-formation. This descending-triangle-formation is marked with the black boundaries in my chart. Besides that GBPUSD has the coherent wave-count within the descending-triangle and the appropriate wave-count in the triangle with the waves A to E already completed. Now as GBPUSD showed up with the breakout above the upper-boundary recently this completed the triangle bullishly and is the setup for the further continuations to the upside. The breakout also activated the main target-zone marked in my chart in blue at the 1.4046 level, it is likely that these targets will be reached in the upcoming times and when this happened it will be important on how GBPUSD reacts into this zone, if there establishes a bullish continuation or a pullback firstly settles. For now, the determinations and appointing of the target-zone should be considered, it will be an interesting journey ahead.

In this manner, thank you for watching my analysis about GBPUSD and the decisive descending-triangle that recently completed and activated the upper-target-zone, will be great when you support it with a like and follow or comment, great contentment for everybody supporting, all the best!
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Information provided is only educational and should not be used to take action in the markets.