GBP/USD: bears-bulls - 5:0

GBP/USD: bears-bulls - 5:0

Recommendation:

SELL 1.3225 SL 1.3280 TP1 1.3125 TP2 1.3025 TP3 1.2870

On the daily chart of GBP/USD, bears managed to fight off the bullish attack at resistance at 1.3455 and start their own advance. The pair triggered AB=CD pattern. Its 200% target is at 1.2870.

GBP1.png 

On H1, GBP/USD reached 113% target of the “Shark”. As a result, the odds of a pullback to 23.6%, 38.2% and 50% of the wave CD in line with its transformation to 5-0 pattern increased. A pullback from resistances may be used for selling.

GBP2.png

gbp

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GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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