GPBUSD wave structure in 4H time frame

GBP in the H4 time frame is in an uptrend. Currently in the pullback wave, we wait for the signal to break the CHOCH position. It signals that the pullback wave may end, then we will wait to buy.

Commentaire:

The CHOCH position has changed, the price increased and crossed the new CHOCH position.

Commentaire:

The price broke the 4-hour Swing High (Weak) so it created a new Swing Low (Strong).

Commentaire:

GBPUSD increased near the strong supply zone in the daily frame.
We need to monitor the wave structure on the 4h timeframe to locate the CHOCH drop to know when the daily PULLBACK wave will begin.

Commentaire:

Today's price has reached the Supply zone of the daily frame. If the price drops and surpasses the bearish CHOCH position of the 4H frame, there will be a pullback wave in the 4H frame.

Commentaire:

The wave structure has a confirmed reversal