So I am just gonna take the +584 pips and bag it. The next move in this pair is anybody's guess. In my last update, I presented and ALTERNATE Scenario for this pair (see Related Ideas: "UPDATE #1: TRADE: GBPUSD: SELL@1.55950 Alternate Count +241 pips") in which I showed a possible wave 3 to be next. But that is of course just one possibility. The other is that prices may continue down as in my original Scenario #2 in this chart below:
So at this point, prices are at a decision point. Which is why I will stand aside for now and watch and wait to see what the chart will say before I take another trade in this pair. Sorry to disappoint anybody who was expecting a trade idea from me!
Year-to-date Profits: +5,794 pips.
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