Here we have a valid on the GBPUSD Daily. 'D' point has completed but I will be waiting for extra confirmation with a possible small move up before a reversal. 'D' point is also touching and respecting a two year downtrend.
Excellent 1:2 Risk to Reward.
Let me know of any thoughts or questions.
You can see price is now at a key junction:
At the top of a descending channel
At the top of a sideways channel
At the top of an ascending channel
This is all adding more confluence to the trade I will be watching at market open before taking my position.