GBP/USD (GBPUSD) has completed 3rd of C wave. Now it is in 4th wave correction. Alternately one more high is possible to complete the 3rd wave as the slope is very steep. Will see how chart moves.
we have here a daily resistance zone, that could stop the pair for continuing up or may have further downside movement.
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There's a possibility for Bullish up trend if the support prevents the price from falling down.
If the support fails, Bears will take over the market.
Wait for confirmation!
The GBP/USD has been raging. After the fake breakout , the price has been rising in Ascending channel. The following approach to the Support line facilitated the bounce of the price that it expected to continue.
GBPUSD broke downtrend line
price based on HVN around 1.22000
price also based on SMA 100
MACD shows decreasing of bearish momentum
RSI above 50
price forming BAT harmonic pattern
so its expect bullish movement to pattern target at 88.6% fibo and supply zone around 1.26000
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The GBP USD is still ranging on the daily chart, the false breakout of the support level of the range is an indication of a bear trap which means that buyers are willing to go and reach the resistance level of the range.
No we have two scenarios :
-If the market breaks the support level of the range , it will go to test the strong supply zone, which will be a...
