GBPUSD PROjections week of 9/1

GBPUSD

As the sweet drawings on the chart suggest, GBP has some options. When you get into levels of structure such as this, it can make for some interesting waves. Last week, the 4H saw some nifty trending moves to the upside, but ultimately, and as shown here, are most likely just a complex pullback in a larger downtrend. For those wishful thinkers, there is still a path to the upside, if price can break through multiple levels of structural resistance. I do believ this pullback still has some upward potential, mostly because it''s own pullback is struggling to surpass .618 fibs, and because of the structure swap taking place since it hit bottom on 8/11. I'd look to get in on some short positions on one of these pullbacks, 'cause you know GBP aint ready to rally just yet.

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