Hello,
GBPUSD
is in the midst of correcting itself (50%) from its previous impulse move,
We will be targeting to trade the 5th wave as current price levels have hit support (38.2%) and we are looking for price to continue onwards to 1.34254 (1:1 of 1st wave of correction)
Release of Current Account data and Final GDP q/q, could futher push
GBPUSD
past the 1.3200 handle.
However, should price break past this support, we should see a continuation of the bearish pattern from 1.43762-1.26637
Good Luck
Resistance: 1.3130, 1.31605, 1.32000
Support: 1.30480, 1.29520, 1.29800
GBPUSD
is in the midst of correcting itself (50%) from its previous impulse move, We will be targeting to trade the 5th wave as current price levels have hit support (38.2%) and we are looking for price to continue onwards to 1.34254 (1:1 of 1st wave of correction)
Release of Current Account data and Final GDP q/q, could futher push
GBPUSD
past the 1.3200 handle. However, should price break past this support, we should see a continuation of the bearish pattern from 1.43762-1.26637
Good Luck
Resistance: 1.3130, 1.31605, 1.32000
Support: 1.30480, 1.29520, 1.29800