GBPUSD LONG THEN BIG SHORTS COMING UP!

Hello traders.

Today I am sharing my GBPUSD analysis.

I am using the Elliot wave trading technique which I commonly teach

Here we can see price is currently forming subwave 4 in wave 4.

We are expecting subwave 4 to reject one of our fibonacci levels and not surpass our blue invalidation box below. Once we see bullish rejection we will be forming subwave 5 in our corrective wave.

Once we see subwave 5 fully form, we would have fully formed our corrective wave and we will be looking for our BIG SHORTS which will secure atleast 1500 pips!


We will update a more precise reversal location for our shorts closer to the time.

Be sure to check out my other ideas

Comment:

Big drop now, our safest place to reject is the wave 4 invalidation level and the 0.618 fib