jbenson071193

jbenson071193

Potential upcoming move for GBPUSD. A strong dollar and weak Pound due to Covid-19 could see the pound tumble in value. A big rejection of the Fibbo 38 Level could see GBPUSD complete the 3rd wave before a retest of the descending trend line (4th wave) before completing the 5th wave & falling all the way down to low support of 0.97500. Very possible with USD...

jbenson071193

Bigger view of the 2 head and shoulders formations.

jbenson071193

Head & shoulder has formed (yellow arrows) within what looks to be a larger head & shoulders forming (blue arrows). Could be an excellent long opportunity followed by a short to catch around 250 pips.