GBP/USD – Break-out – Last Bullish Impulse – End of Cycle

GBP/USD – Break-out – Last Bullish Impulse – End of Cycle

Following up on the previously posted “GBP/USD - Impulsive Bearish Swing - Minuette (c)” article, GBP/USD indeed went to lower grounds, so the insight was OK. However, it seems as the pair is still trading within the bigger Corrective Structure, signaling a possible Bullish Swing.

GBP/USD Wave Count suggests that it could possibly start a Bullish Rally, one which could be the final push before an expected Major Trend Change.

As this would be 5th wave for an overall bigger degree, it could be the final push upwards, as a Market Shift could be around the corner for both UK & US economies.

An Ending Diagonal would be a preferred scenario, as it would make more sense, thus increasing the reversal chances above 1.4500 Levels.

GBP/USD – Technicals:

• On a larger scale, the pair is already trading within a Rising Bullish Channel, but within a Corrective Pattern, therefore and Ending Diagonal scenario remains valid.
• Bullish Flag Pattern and possible Break-out, both signs of possible Bullish outcome.
• Descending Channel has been breached and a noticeable “slide” on the upper trend-line is a sign of a possible upcoming Bullish Impulse.

2H Chart (picture):

GBP/USD – Intraday – BUY Position:
• Entry – 1.3950 (or Market if Aggressive)
• SL – 1.3750
• Targets – 1.4250 / 1.4500 / 1.4700 / 1.4800

! Warning ! – This set-up represents an Aggressive approach.

2H Interactive Chart:

Safety Measures:
• When in profit, moving SL to break-even.
• Conservative traders would wait for the Impulse occur and examine the next Correction.

Many pips ahead!