GBPUSD - Short Possibility - Updated
Currency Pair: GBPUSD
Frequency: 4H
Predicted Direction:
GBPUSD is perfectly hit my white ascending line like what I predicted before, please find below the link. It has reversed sharply after finding support on this ascending support line. According to my Elliott Wave count, the price is now trading at the subminuette corrective Wave iv and I expect the price will hit my previous support line at 1.33263. We have to wait until the price started to turning from this level to confirm the wave iv is finished so it would be a good opportunity to place a short position around the level of 1.33623 - 1.34451 with the stop loss level of 1.34805 - 1.35016. I do expect the price will eventually finish its impulse wave v and hit my first target of 1.27740.
Frequency: 4H
Predicted Direction:
GBPUSD is perfectly hit my white ascending line like what I predicted before, please find below the link. It has reversed sharply after finding support on this ascending support line. According to my Elliott Wave count, the price is now trading at the subminuette corrective Wave iv and I expect the price will hit my previous support line at 1.33263. We have to wait until the price started to turning from this level to confirm the wave iv is finished so it would be a good opportunity to place a short position around the level of 1.33623 - 1.34451 with the stop loss level of 1.34805 - 1.35016. I do expect the price will eventually finish its impulse wave v and hit my first target of 1.27740.
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