GBPUSD Short Term Bearish // Mid Term Bullish

The dollar should continue to weaken on the daily to our lower target this year of 92. This will allow GU to rise and make our 3rd wave of the bullish motive wave. Until we find support at the equal legs extension zone from the top of our first wave we cannot get bullish. Our complex correction should be finalizing in the next few days and support found in my green box at the equal legs.

Upon reaching the equal legs we look to take profits at the 50 back from the equal legs and get risk free in the position. From there we should see a nice movement to the upside and eventually closing upwards of 1.36. Long term trade for swingers. Shorter term scalpers can get in on the action but with caution. The moves will not be quick

Comment:

This idea is still struggling. We may not hit our target zone

Order cancelled:

I have cancelled this trade. I do not like the movement of GU at this time. We will look for other setups