Daily chart for GBPUSD. I'm bearish for now. I see abc correction for Wave 4 completed, unless it extends and do another abc correction.
1. Wave 3 is shorter then Wave 1, so wave 5 need to be shorter then wave 3, a double bottom perhaps
2. RSI moving up supported by trendline, but is reaching a strong resistance zone
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Trading carries a high level of risk to your capital and may result in losses that exceed your initial deposit.
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1. Wave 3 is shorter then Wave 1, so wave 5 need to be shorter then wave 3, a double bottom perhaps
2. RSI moving up supported by trendline, but is reaching a strong resistance zone
-------------------------------------
Risk warning!
Trading carries a high level of risk to your capital and may result in losses that exceed your initial deposit.
Supplied information is not advice.
--------------------------------------
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I feel GBPUSD will go down to complete Wave 5 by doing a double bottom, and then move up for ABC correction.
