GBPUSD Analysis – Time For Continuation Short To Long Term Target
GBPUSD Analysis – Pair closed nicely yesterday providing a nice bearish engulfing signal. The pair may see additional bearish activity next week if the bear engulf signal confirms. The pair is providing a good chance to be taking shorts in the markets to the lows of the range. there’s a long term measure move of previous impulse to achieve, and this continuation move might be responsible for price hitting this target. If price breaks the daily range it would ensure a nice minor breakdown, igniting the move to take the pair to target.
In Other View Point – GBPUSD scenario’s for next week.
I see 2 probably scenario’s for next week wherever my bullish count for wave three is my preferred scenario for the moment. i’ll be looking for the bullish break and continuation higher. If however this turns out to be a triangle i’ll let price settle after the primary bearish impulse and sell the continuation. A triangle almost always happens prior to the final move so would help US to buy GBPUSD after wave 5.
In Another View Point – GBP/USD Dead Cat Bounce target
GBP/USD’s Flash Crash would still be extended down to 1.1216, as a result of it’s a Dead Cat Bounce. Wave structure is abc since 1.5019. If wave C=A, its target are going to be at 1.1216.