GBPUSD can be trading in a bigger three-wave recovery from the lows, with first wave A) already completed. We know a five-wave rally could suggest a change in trend, but in our case, we see this bigger three wave reversal as only temporary. Ideally the second wave B) is now in motion and can search for a base near the FIbonacci ratio of 61.8. From there a new five-wave movement into final wave C) can come in play.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
Note
This was a perfect move up.. now C? expect limited upside early next week.
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