Welcome to this analysis about GBPUSD, we are looking at the 12-hour timeframe perspectives. GBPUSD in the last times is showing increased volatility within the structure between 1.37 and 1.425 level and as I discovered now is forming some quite interesting developments in the structure that can lead to an upside breakout to the up or downside sooner or later before that however the consolidation structure is firstly likely to move on till this final breakout can emerge. Therefore I detected the structural developments, the meaningful zones, and what we can expect.
Structural Developments: As when looking at my chart we can watch there how GBPUSD has formed this main ascending-channel-formation within the structure. Besides that GBPUSD has the coherent wave-count within the channel with the waves A to D already completed and recently the wave D moving into the lower boundary of the channel again in which GBPUSD has still some solid supports lying together with the 260-EMA in red as well as 200-EMA in green. GBPUSD already bounced within this lower-boundary structure and showed some good volumes that can be the origin for further continuation and the wave E to form ahead in coming times.
Upcoming Determinations: Taking all these factors into consideration GBPUSD is likely to continue with the wave E development the next time. This wave E will move on to test the upper ranges and especially the upper target zone which is also a dynamic distribution zone. The crucial part then will come with GBPUSD either staying in this upper range level or firstly pulling back, both directions can convert into an upside or downside breakout and for now, it is necessary to keep patient and elevate how GBPUSD approach this upper-boundary target zone to continue after that before rushing into final conclusions, it will be an interesting development ahead.
In this manner, thank you everybody for watching, support the idea with a like and follow or comment, have a good day, and all the best! "Trading effectively is about assessing possibilities, not certainties."
Information provided is only educational and should not be used to take action in the markets.