GBP/USD has currently completed the minute degree 5th wave and is now entering a corrective 2nd wave. The 5th wave remains valid as long as the price stays below 1.36168. There is a high probability of a downward move towards the Fibonacci retracement zone between 0.618 and 0.786, corresponding to the price range of 1.26811 to 1.24270, where an ABC correction is expected to complete.
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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.