GBP|USD is forming a continuation pattern ( triangle ). Although its not complete yet I think the pound will be stuck in a consolidation for a few days/ hours.
Tips to note when looking at a Triangle
- wave (d) never goes above wave (b)
- wave (c) never goes below wave (a)
- wave (e) never goes below wave (c)
The most common way to measure the target for a post Triangle is by measuring the distance of the longest wave in a Triangle then place it start of wave (e) then the distance you will get use it as your target.
Tips to note when looking at a Triangle
- wave (d) never goes above wave (b)
- wave (c) never goes below wave (a)
- wave (e) never goes below wave (c)
The most common way to measure the target for a post Triangle is by measuring the distance of the longest wave in a Triangle then place it start of wave (e) then the distance you will get use it as your target.