Potential long GBPUSD movement
Orange lines - daily wave, classic ABC continuation
Green/Red lines - h1 exhaustion trading levels for the daily C point
Magenta lines - m15 exhaustion trading levels for low time-frame reactions
Our h1 expected turning point is at the current price - 1.3655. However our trade logic is not met and we do not have a valid h1 trading signal yet. Similar to audusd, we're expecting conditions to be met in the next 24 hours.
An alternate course of action would be a sharp drop into the magenta m15 level which is close to a 1.27 extension of the daily wave - 1.3541.
Green/Red lines - h1 exhaustion trading levels for the daily C point
Magenta lines - m15 exhaustion trading levels for low time-frame reactions
Our h1 expected turning point is at the current price - 1.3655. However our trade logic is not met and we do not have a valid h1 trading signal yet. Similar to audusd, we're expecting conditions to be met in the next 24 hours.
An alternate course of action would be a sharp drop into the magenta m15 level which is close to a 1.27 extension of the daily wave - 1.3541.