GBPUSD Daily Chart.Whichever the way, it's tradeable.

FX:GBPUSD   Britisches Pfund / US-Dollar
1347 12

GBPUSD dominant trend remains Bearish in WEEKLY chart.
Since 7/10/2016 , it developed into a corrective 5-3-5 pattern EW ZigZag .
1 - Wave-A developed into a 5-wave motive structure, ending at 1.27750
2 - Wave-B developed into a 3-wave internal correction ending at 1.19840
3 - Wave-C is initiating a probable 5-wave structure. This is expected to conclude as a motive wave.

-If price bounce from 1.2600 area, watch for long setups, target 1.272 Fib extension of (iv) wave (1.31670), possible last (v) wave.
-If price initiates a flag near 1.2600, watch for short setups, a possible break down and the start of next impulsive wave.

Trade with discipline
Kommentar: Looking for the last fifth wave up
Kommentar: 4th corrective wave will complete soon.
Watch for next impulsive 5th
Kommentar: Correction
Kommentar: Looking for shorts
Trade ist aktiv: Trade is active, entry price 1.31120, If you are not in, watch for the break if the flag
Trade wurde manuell geschlossen: Closed at BE.
Didn't get the break of the flag for a further drop.
Instead now it looks bullish.
Kommentar: Good up move after the break of the flag, price of daily trendline.
Kommentar: Pattern is close to complete.
Thank you ChrisMark! This one has an huge potential.
Very good
sir eurgbp can come down?
+1 Antworten
ChrisMark hassan.saeed881994
Hi @hassan.saeed881994, take a look at this EURGBP chart. We look for the drop, however, price now is making a higher high so stay out of it for the moment.

+1 Antworten
ChrisMark chinaJY
@chinaJY, Looks good mate
chinaJY ChrisMark
@ChrisMark, Yes, observe 1.2811 and 1.3125.
nice analysis . good luck bro
+1 Antworten
ChrisMark kicklink
@kicklink, thank you, happy pips!
Thank you Chris
+1 Antworten
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