Price action on the GBP/USD (3H timeframe) has shown a Change of Character (ChoCH), indicating a potential bullish reversal. After forming a strong base, buyers have stepped in, pushing the price above the recent structure.
Key Highlights:
ChoCH Breakout: A shift in market structure suggests bullish momentum.
Targeting Supply Zone: The next key level of interest is around 1.2750 - 1.2800, where sellers may step in.
Wave 3 to Wave 4 Transition: Aligning with Elliott Wave Theory, this move could be part of a corrective structure before further upside/downside.
Key Highlights:
ChoCH Breakout: A shift in market structure suggests bullish momentum.
Targeting Supply Zone: The next key level of interest is around 1.2750 - 1.2800, where sellers may step in.
Wave 3 to Wave 4 Transition: Aligning with Elliott Wave Theory, this move could be part of a corrective structure before further upside/downside.
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