GBPUSD TRADE SETUP

GBPUSD TRADE SETUP

24 January 2020, 05:30
Lalit Matta
0
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The pair ended  a cycle up in wave ((1)) from the 9/3/2019 lows at 1.3519 on 12/13/19. From there a cycle in wave (A) ended at 1.2904 & wave (B) is in progress as a triangle while above the 1.2954 lows where the hourly is turning up.  While a bounce fails below 12/13/19 highs  it can see a pullback lower to correct the cycle from the 9/3/19 lows.  While it shows it will remain above the 9/3/2019 lows where the 4 hour right side is up it can see another swing higher in the correction of the cycle lower from the 7/15/14 highs.
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