fxmillions
Long

GBPUSD enters the 4th wave of the Cycle degree

FX:GBPUSD   British Pound/U.S. Dollar
If you must trade the cable next week, look for buy opportunities. I say if you must because, the ATR is in the rise and 14 day period ATR of the H4 stands at 200 pips. So be protective and expect big moves back and forth. If you can get this trade, it will easily cover 300 to 500 pips. See my detailed explanation, analysis and forecast
Comment: Correction: H4 ATR is actually 107 pips and not 200 ATR on the daily chart is around 202 pips.
Comment: The structure is looking bearish once again. So no trade. Since its presumably in the 4th wave correction, price is likely to move back and forth. Lets wait for the next impulse...
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