A very simple of a wave analysis. We saw previously was the completion of the impulsive wave (v). Assuming downward correction of wave (a) have formed, and going down towards the 61.8 % fib line for retracement, then will again resume its way down to complete wave C.
My idea was to short GBP, exactly when the confirmation bearish candle formed, from the level of 1.3225 with target in mind set at the bottom (1.2865).
Current Scenario : price closed at 1.3129 (closest to 38.2 fib)
Alternative Scenario : Short more at current price
Breakout and consolidate above level 1.3276 would allow pair to grow to 1.3350
My idea was to short GBP, exactly when the confirmation bearish candle formed, from the level of 1.3225 with target in mind set at the bottom (1.2865).
Current Scenario : price closed at 1.3129 (closest to 38.2 fib)
Alternative Scenario : Short more at current price
Breakout and consolidate above level 1.3276 would allow pair to grow to 1.3350