The GBPUSD is in a daily corrective structure, as seen on the chart it has completed 2 abc for an A and B wave , it is now making an up move for a C wave which has already broken the top of the A wave. By all rules we have a Flat , the question is we don't know if the C wave is completed, which means more up move is possible which will be followed by a down impulse (one I will not miss) or a sharp down move from here which would be the start of the down impulse. I guess we will see what happens but in any case a down impulse to break the monthly Low is going to happen. My preference is a sudden spike up in which case I will be able to trade the down impulse, if the down impulse goes from here I will likely miss it.
Trade with care (in this case better not to trade)
Nice chart anil thanks. Still can come down for the 5th wave I think!
FawadJawed
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just shorted @ 1.4974
laurencejevans
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Looking nice right now!!
FawadJawed
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indeed :)
MohammedSolaiman
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wow I have the same wave count :3
but you sir published first :D
TadeMark
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Gbp needs careful trading
Carrero
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Or just trade something else
adamzski
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i agree...better opt for something else for now
tadawul2015
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TimStuyts
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I agree with you although my wave count differs. Would be nice to see a minor wave C higher as a result of a relief rally and then sell. Good trading to you.