Looking for ABCD pattern completion. Looking on the weekly chart, price has crossed the BLUE weekly trend line and EMA's have crossed. Daily: retest of weekly trend line happened today (27/02) and was rejected. We may see price come down to 61.8% before a bullish run up to monthly resistance. Target 1: 1.2770 (monthly res). Target 2: 1.2901 (-27%)
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Majority of traders are looking for a short on GBPUSD, my bias is long mainly due to the weekly chart EMA's crossing and the cross of the trend line.
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Waiting for test of 61.8%
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