? GBP/USD Bullish Reversal after Bearish Trend Reaches 1.31? ?
June 22, 2018
2 min read
Subscribe
Hi traders,
The GBP/USD made another low but closed and reversed after reaching 1.31. The GU showed strong bullish momentum as it broke above the resistance trend line which could indicate a larger bullish move.
GBP/USD
4 hour
The GBP/USD might have completed a potential wave 5 of a larger wave 1, which could kick off a larger bullish correction in wave 2.
1 hour
The GBP/USD bullish correction could develop via a wave 1-2 (purple) pattern. The wave 2 is invalidated if price breaks below the bottom of wave 2 (the 100% Fibonacci level).
Good trading,
Chris Svorcik
Elite CurrenSea
Leave a Reply