GBPUSD looks making a 5-3-5 Correction after a nice bullish ralley but WEEKLY GAPS should also be considered.
its making 4th leg of C.
As per rule the wave 4 should be 38% 50% or 62% of Waves 3.
In Current Scnerio it looks like 4th Leg is completed @ 38% Fib Retracement
As there are 3 Conxecutive rejections found @ 38 % Retracement level.
I hope it will go down to complete 5th Leg and then I will continue its
Dominent Trent that is UPTREND.
its a short time short then its a BUY.
It should not go below to 1.2100
its making 4th leg of C.
As per rule the wave 4 should be 38% 50% or 62% of Waves 3.
In Current Scnerio it looks like 4th Leg is completed @ 38% Fib Retracement
As there are 3 Conxecutive rejections found @ 38 % Retracement level.
I hope it will go down to complete 5th Leg and then I will continue its
Dominent Trent that is UPTREND.
its a short time short then its a BUY.
It should not go below to 1.2100