GBP/USD at a decision point
Daily:
Currently in a volatile trending market. Lower highs with lower lows being formed. Also, in a channel.
4h:
At a supply zone. Price has previously been rejected 6 times. Maybe this will be the 7th?
1) Price can either go for corrective wave, so we need a BCR of 135.10 zone to go long.
2) Price can continue impulsive wave and go down. We need a BCR of 134.20 level.
Daily:
Currently in a volatile trending market. Lower highs with lower lows being formed. Also, in a channel.
4h:
At a supply zone. Price has previously been rejected 6 times. Maybe this will be the 7th?
1) Price can either go for corrective wave, so we need a BCR of 135.10 zone to go long.
2) Price can continue impulsive wave and go down. We need a BCR of 134.20 level.