Hellena | GBP/USD (4H): Short to support area of 1.25979.

Dear colleagues, I assume that the price is completing the corrective wave 2 in the area of 1.27587 and will soon start a downward movement to the support area of 1.25979. This will be the development of wave 3.

Manage your capital correctly and competently! Only enter trades based on reliable patterns!

Comment:

Dear colleagues, I suppose that at this moment it is necessary to close some positions or take the deal to breakeven. There is a great possibility of price reversal in the opposite direction due to the news background.

Comment:

The price successfully tested the resistance area at 1.27587 and then started to decline, but the news background broke this movement. Now the price is in the accumulation zone. In the coming week I expect the completion of triangle formation followed by a strong price exit. In which direction we do not know yet, but we can already put the deal to breakeven and just wait. If the price goes against us, we will not lose anything.

Comment:

Dear Colleagues, the price has travelled most of the way to the target. Therefore, I recommend to move the trade to breakeven. The price has been in the range of our forecast for quite a long time, so I would consider closing the trade when the low of 1.26406 is reached. Be careful and flexible when trading!

Comment:

The price has resumed the downward movement and is close to the nearest local minimum at 1.26411. I believe that the price will at least reach this level. Then I expect correction and resumption of downward movement to the target 1.25979.
I do not exclude closing some positions at 1.26411.

Trade closed: target reached:

As I wrote yesterday - I consider closing positions in the area of 1.26411. Although the price did not reach the initial target - I consider the forecast worked out with a profit!

Trade closed: target reached:

Well, if anyone held positions or has re-entered - congratulations!) Great profit)