GBPUSD seems almost ready for wave C higher

11 Ağu 2016

We saw GBPUSD make a new low and I think that this is might give us an even better buy opportunity once wave 5 in red, C in blue and B in brown are over. I prefer to see a slightly lower low but we will see. I will be buying after a 1-2-3 reversal pattern in line with a structure break shown by means of the trend line.
For wave C target I still see 1.36 as very likely.
Only if we accelerate lower I will adjust to a different wave count.
Updates will follow

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22 Ağu 2016

Not

We saw a nice first leg higher which we anticipated. I like to see at least another leg higher.