As you can seen the British Pound has completed 5 waves to the downside and is trading in a corrective ABC wave. Wave B found support at the 61.8% fib and wave C is on. My take profit targets are the two blue boxes.
We are also witnessing the process of forming an inverse H&S pattern.
MACD is showing a strong convergence as well.
We are also witnessing the process of forming an inverse H&S pattern.
MACD is showing a strong convergence as well.