My thinking is as follows:
1- GBPUSD over bought at current levels
2- 0.786 retracement level = 1.4353
3- Currently finding resistance at previous support levels
4- The chart pattern does look like a head & shoulder on the longer term
5- 200 Week MA = 1.437
6- The potential wave counts illustrated supports a down turn into a lower low in 12 to 18 months
In the short-term it could head for 1.445 to 1.45 but my view is that in the next few weeks it should start heading down.
Below an inverse view of the pair - USDGBP, which sometimes gives me a different perspective or confirmation on my views.
1- GBPUSD over bought at current levels
2- 0.786 retracement level = 1.4353
3- Currently finding resistance at previous support levels
4- The chart pattern does look like a head & shoulder on the longer term
5- 200 Week MA = 1.437
6- The potential wave counts illustrated supports a down turn into a lower low in 12 to 18 months
In the short-term it could head for 1.445 to 1.45 but my view is that in the next few weeks it should start heading down.
Below an inverse view of the pair - USDGBP, which sometimes gives me a different perspective or confirmation on my views.
Not
Below a view of two outcomes of the next move on the 4HR chart
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.