HomeContributorsTechnical AnalysisGBP/USD Bearish Wave C Tests Triangle Chart Pattern

GBP/USD Bearish Wave C Tests Triangle Chart Pattern

The GBP/USD is expected to make a bullish bounce back towards the top of the triangle pattern unless price breaks below the support line (green). The Fibonacci levels of wave E vs D could act as potential resistance levels.

The GBP/USD has completed or is close to completing a wave C (green) within waveB (blue). A bullish bounce is expected if price indeed completes the bullish ABC (blue) zigzag correction.

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