After completing a huge move of 6.70% up from the lows and forming a wedge within a valid 3 wave bear flag price is at a key area right now. While a small move up is still possible the probability is lower. This agrees with GBPUSD analysis.
I am currently looking at the demand zone at around 7533 for a potential long. This is a long term bullish view and, I am expecting the all time highs to be taken out.
Biggest threat to the Economy and Markets.
Rising flags resolve themselves to the downside once the structure has been validate with 3 confirmed waves. Wave 3 requires an established reversal hook to be considered valid. Market closed prior to revealing its intentions point C. Break of trend does not look promising. If confirmed a 6% decline is likely in the...
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