With what could be wave 3 in place GBPJPY is now retracing. Price should hold circa red 4 of less one degree.
Any significant move below red 4 would cause concern and the alternative count to be considered in that the movement is A B C corrective.
The base channel was breached quite easily and I suspect that we traded a third wave thus offering a pending opportunity to long the pair if this count is valid.
Any significant move below red 4 would cause concern and the alternative count to be considered in that the movement is A B C corrective.
The base channel was breached quite easily and I suspect that we traded a third wave thus offering a pending opportunity to long the pair if this count is valid.