GBP/USD falling inside minor
Next sell target – 1.2350
GBP/USD continues to fall inside the minor c-wave which started earlier from the resistance zone lying between the pivotal resistance level 1.2720 (which also stopped the previous impulse wave 3), upper daily Bollinger Band and the 50% Fibonacci correction level of the previous sharp downward impulse from September. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Evening Star.
GBP/USD is expected to fall further to the next sell target at the support level 1.2350 (which stopped the B-wave of the active primary ABC correction 4 from October).
Next sell target – 1.2350
GBP/USD continues to fall inside the minor c-wave which started earlier from the resistance zone lying between the pivotal resistance level 1.2720 (which also stopped the previous impulse wave 3), upper daily Bollinger Band and the 50% Fibonacci correction level of the previous sharp downward impulse from September. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Evening Star.
GBP/USD is expected to fall further to the next sell target at the support level 1.2350 (which stopped the B-wave of the active primary ABC correction 4 from October).