Here both are possible but the bearish impulse is stronger. But if it breaks the green trend-line I draw, it will go up.
we might get some ticks to the upside but it has to come down to hit that area.
Gbp really needs to make this down move to make itself stronger.
I think the bulls still have some other field to destroy.
This pair has to touch that strong trend above. Now we get some corrections, but eventually it will go up.
Here is a big supply. A strong down move.
Elliot waves, trends, peaks. SD
a major trendline
This time the downtrend is obvious.
We might get some retest but it has to touch the bottom again. GBP is like a maniac.
It lacks fuel.
I will go more with the rally to the upside.
Again as GBPAUD a major trend.
It hit a major trend.
It fell deep to the well. It has to take-off.
JPY has to come up to its feet
GBP will eventually will go up. But it needs some power.