Price is currently testing the 1.36277 zone. I’m closely monitoring for a break of structure below this level. If it breaks, I’ll be watching for a pullback setup to short, ideally aligning with BBMA/EMA confluence.
The wave structure looks clean:
• ✅ Wave (1), (2), (3), and (4) are completed.
• ✅ AO histogram also confirms momentum waves (1) to (4), with the current move likely to complete Wave (5) to the downside.
• 🔻 Wave (4) retraced into the previous imbalance zone and respected resistance, giving further confluence for bearish continuation.
Looking to target below 1.3500 for Wave (5) completion.
Key Levels to Watch:
• 🔑 Break below 1.36277 = Bearish confirmation
• 🎯 Potential TP Zone: 1.3450 – 1.3425
• 🚫 Invalidation if price closes above 1.3700 with momentum
Let’s see how price reacts at this key level 👀
#GBPUSD #ElliottWave #AO #PriceAction #BreakOfStructure #TradingView
The wave structure looks clean:
• ✅ Wave (1), (2), (3), and (4) are completed.
• ✅ AO histogram also confirms momentum waves (1) to (4), with the current move likely to complete Wave (5) to the downside.
• 🔻 Wave (4) retraced into the previous imbalance zone and respected resistance, giving further confluence for bearish continuation.
Looking to target below 1.3500 for Wave (5) completion.
Key Levels to Watch:
• 🔑 Break below 1.36277 = Bearish confirmation
• 🎯 Potential TP Zone: 1.3450 – 1.3425
• 🚫 Invalidation if price closes above 1.3700 with momentum
Let’s see how price reacts at this key level 👀
#GBPUSD #ElliottWave #AO #PriceAction #BreakOfStructure #TradingView
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.