Get started
harshjapee

GBPUSD prepares lower towards 1.2200 as Wave C progresses

Short
British Pound / U.S. Dollar (FOREXCOM:GBPUSD)  
harshjapee  
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Wave Analysis GBPUSD Technical Analysis
2
0
trendanalysis waveanalysis gbpusd technicalanalysis
GBPUSD might be unfolding a higher degree zigzag since 1.3488 highs. Further. it has potentially terminated Wave A at 1.2675 and Wave B around 1.3175 levels respectively. If the above holds well, Wave C might be underway since 1.3175 highs. Also note that lower degree waves i and ii might have terminated around 1.2855 and 1.3140 levels respectively. If correct, we should see a sharp decline in prices towards 1.2675 and lower as Wave C progresses.


Remain short, stop @ 1.3500, target @ 1.2200


Good luck!
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.