Prerequisite Reading: GBPUSD: Time to Take Profits
The levels we have been calling out these weeks in GBPUSD have played out very well, and we can confidently state that GBPUSD wins the first place as the "best behaving pair of the month".
The third wave seems to be completed as expected in the 1.618 expansion, and what we expect now is a messy action which might give false signals from both sides (the way wave 4 is supposed to be). There might evolve 2 scenarios for the expected correction.
Scenario 1: This is ED
As long as the channel is respected ...Read More