- GBPUSD is currently not in an impulsive phase.
- Compared to AUDUSD or EURUSD, GBP still needs one more move to the downside
- I think Wave X just finished and we'll see the finishing wave z
- This wave could end around 38% Fib retracement or extend to 50% Retracement
- Even an overextension to 61% is possible, but highly unlikely
- As always be patient, watch the market
- Watch how it react around key areas and look for signifikante price Action signals!
- Only after clear Entry Signal, place a trade under proper risk management rules
- We should then see the next impulsive phase, which is wave 5 to new daily high.
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GBPUSD 4H
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