GBPUSD - ONLY LONG POSISTIONS AFTER THE BIG DROP

GBPUSD ended the retracement phase of the big uptrend with target on values near 1.44 / 1.45. As you can see the 4th wave reached the 32.8 fractal value of the fibonacci retracement. According to the elliot theory in this tipe of 5 movements waves where the third wave is visible in the same timeline the fifth wave is near the same as the first.



So, according to oru analisys and the elliot theory we recomend only long possitions with TP in this values:
TP1: 1.375
TP2: 1.396
TP3: 1.44

Stay tuned and remember, only long positions are recomended if you look for lots of pips!