GBPUSD can drop a lot more!

Hi traders,

Last week GBPUSD made a small correction and dropped to our predicted demand area. It made a correction to the fib 38.2 and dropped more then 200 pips again!
If you've followed our analysis from last week you should have made some nice profit.
For this week we will look for a correction on a smaller time frame to the former demand which becomes supply area and sell again after confirmation. We still think that GBPUSD can drop more to at least the fib extension 1.618.

If you want to learn more about trading with supply and demand and wave analysis, please make sure to follow us, give a like and comment.
This shared post is only our point of view on what could be the next move in this pair based on our analysis. We do not provide signals.

Don't be emotional, just trade!

Eduwave Trading