In my last post on this pair (see Related Ideas: "GBPUSD: BREAKOUT! But be cautious...STOP Sign Up Ahead! "). I talked about the wave C of an ABC
corrective pattern having started and that the current wave was only wave 1 of that 5 wave wave C movement up. And that there was a breakout of a small consolidation but that breakout was short-lived because of a pending wave 2 of the wave C. Well, that wave 2 has already started as predicted and now there is also a bullish cypher
that may mark where the wave 2 will end. If it should get that far and fill the cypher
, then I will look to buy LONGS and get in on the wave 3 up. But for now, just waiting.....
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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