Hellena | GBP/USD (4H): Long to resistance area 1.23235.

Dear colleagues, I assume that in the coming week the price will make an upward movement and will reach at least the target of 1.23235. Then I expect the high to be updated and the completion of wave 3.

Manage your capital correctly and competently! Only enter trades based on reliable patterns!

Comment:

The price has shown a nice rise! I expect a small correction and then growth again. It is quite possible that this week the price will not reach the target, but the main thing is that the direction is correct!

Comment:

It is possible that the price will update the nearest local low of 1.21225 and reach the area of 1.20400, which is not beyond the scope of my forecast, but in this case its realization will stretch into the next week. Watch for updates and put your trades to breakeven!

Comment:

Dear Colleagues, sometimes it happens that the minimum or maximum of a wave is carried further and further away. This time the price updated the low of wave 2. I consider the price reaching the Invalidation level of 1.20394 as a cancelation of the scenario.
At the moment, I still expect an upward movement with the aim to reach at least the resistance area at 1.23235.

Trade closed: target reached:

Dear Colleagues, at this price level I prefer to close long positions. In the future, I assume that the price will complete wave 3 and update the high of 1.23235, but a small correction is possible, after which you can find the best entry into a long position again.