Comprehensive GBPUSD Analysis Ahead of UK General Election
This is a comprehensive analysis of the GBPUSD ahead of the UK General Election scheduled for Thursday, 4th July 2024. The chart has been marked to highlight key levels (Decision-Making Points) on the weekly, daily, and H4 timeframes. Below is a summary based on the price analysis:
Weekly: Strong Bearish
The wave structure on the weekly chart indicates a bearish expectation.
Daily: Bearish Wave Structure
The daily chart shows a second bearish wave structure with a lower low.
H4: Bearish Wave Structure with Pullback
The H4 chart has completed a bearish wave structure and shows a valid pullback.
H1: Bearish Momentum
This morning, a momentum low was made, and the current pullback aligns with the second bearish wave structure.
Weekly: Strong Bearish
The wave structure on the weekly chart indicates a bearish expectation.
Daily: Bearish Wave Structure
The daily chart shows a second bearish wave structure with a lower low.
H4: Bearish Wave Structure with Pullback
The H4 chart has completed a bearish wave structure and shows a valid pullback.
H1: Bearish Momentum
This morning, a momentum low was made, and the current pullback aligns with the second bearish wave structure.
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