GBPUSD: Possibly Last Moves Towards the Channel (Maybe Topping)

GBPUSD: Possibly Last Moves Towards the Channel (Maybe Topping)

3 May 2016, 17:21
AynGannRand
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In our previous week's post, GBPUSD: Possible End of Bullish Rally!, we laid out 2 possible scenarios regarding the last wave of the possible C.

We believed that wave 5 of C would turn out to be an Ending-Diagonal (ED) that would target the upper-bound of the channel. Now, GBPUSD is trading in an impulsive inner-wave 3 of this wave 5 and we believe that it should reach higher to the channel.

GBPUSD 4H Chart - May 3, 2016

 

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