GBP/USD is dreaming of a correction

GBP/USD is dreaming of a correction


BUY 1.33

SL 1.3225

TP1 1.34 TP2 1.3445 TP3 1.3555

On the daily chart, GBP/USD is trying to correct with the help of a “Three Indians” pattern from the area of 88.6% of the “Double top”. The first attempt to overcome resistance at 23.6% of the last descending wave failed.

GBPUSD d1.png 

On H1, GBP/USD reached the interim target of “Wolfe waves” pattern. The pair’s currently consolidating in the 1.3220-1.3300 range. A break of its upper border will increase the odds of formation of “Crab” and “Shark” patterns.

GBPUSD h1.png


Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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