GBP is trading in Descending Expanding pattern on the 4hr frame. There has been 3 wave formations and today we will either see a move up to complete the 4th wave to the top of structure or a move down to support, indicated by the white lines. The red lines are possible scenario if GBP takes fall today. Either way, I expect to see the 4th wave to the top of structure. From that point we could see a move back for the 5th or break out.
Commentaire:
Wave 4 completed, trade now considered closed. Looking for next setup.