After the marked a-b-c-d-e triangle and 4–5 sequence, GBPUSD is bearish on H4. The circled wave (iii) low at 1.31372 preceded an apparent circled wave (iv) correction, internally labeled (a)-(b)-(c), with (c) peaking at 1.34192. The blue projection favors a decline from 1.33710; 1.33718 and 1.33110 are also marked pivots. A break above 1.34192 would weaken this view.
This analysis is for education and general market information. It is not investment advice or a recommendation to trade.
GBP/USD’s four-hour chart shows 1.33667 after rallying from 1.31372, where (v) completed the labelled wave…
GBPUSD Rate: GBPUSD stood at 1.32451 on the four-hour chart at 9:10 AM New York…
GBPUSD Rate: GBPUSD traded at 1.32420 on the four-hour chart at 7:53 AM New York…