Weshareio

GBPUSD Correction Phase Expected After The Bearish Impulse Move

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OANDA:GBPUSD   İngiliz Sterlini / ABD Doları
GBPUSD has been trading in a bearish trend for a long time now and its safe to say as we broke the 1.14010 low. But on the 4 hour timeframe we saw a complete clear impulse move which all guidelines are not violated so we can possible expect a correction to the upside in this case I wouldn't suggest an impulse move up as we realise overall we are in a strong downtrend by simply looking at market structure every time we saw a bit of pullback it didn't last it was followed by a strong bearish move this move is not any exception.

Well it can be any corrective move but we can at least expect a zig-zag as its very common. The idea is long term we are still bearish but we can take advantage of short term pullback moves.

Feragatname

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