GBPUSD prepares lower towards 1.2200 as Wave C progresses

5 thg 11, 2020

GBPUSD might be unfolding a higher degree zigzag since 1.3488 highs. Further. it has potentially terminated Wave A at 1.2675 and Wave B around 1.3175 levels respectively. If the above holds well, Wave C might be underway since 1.3175 highs. Also note that lower degree waves i and ii might have terminated around 1.2855 and 1.3140 levels respectively. If correct, we should see a sharp decline in prices towards 1.2675 and lower as Wave C progresses.


Remain short, stop @ 1.3500, target @ 1.2200


Good luck!