GBP/USD: bears made a stop

GBP/USD: bears made a stop

Recommendation:

BUY 1.3610 SL 1.3555 TP1 1.3675 TP2 1.381 TP3 1.3920

SELL 1.3455 SL 1.351 TP1 1.3355 TP2 1.3255 TP3 1.3180

On the daily chart, GBP/USD after reaching 127.2% target of the “Shark” consolidated in the 1.3455-1.3610 area. A break of its upper border will increase the risks of a correction to 23.6%, 38.2% and 50% of the wave CD in line with the transformation of the “Shark” into 5-0. On the other hand, a successful test of support at 1.3455 will open the way down to 88.6% of the “Double top”.

GBP1.png 

On H1, GBP/USD bears took the initiative in their hands after the formation of a “Broadening wedge”.

GBP2.png

gbp

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