GBP/USD breaking lower [Video]

Gregor Horvat Wavetraders

Hello traders,

GBPUSD started turning south from the 1.3480 area where price completed a three wave rise. We see an impulsive sell-off from the highs, and through the lower corrective channel line, which confirms a completed three-wave A-B-C rally, and a new bearish cycle. That said, price can proceed towards the 1.225 area, and below in a five-wave fashion. That said, be aware of temporary corrections.

GBP/USD, daily

Also. check our new VIDEO analysis for the GBPUSD below.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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