Two Bullish Wolfe Wave patterns for GBP/USD. It is crucial
for price to remain above at least the 1.2900 level to ensure
long term bullish pressure should price go down that deep.
If price remains above the 1.3458 level then I believe we will
see a bullish trend continuation in the shorter term.
It is difficult to say when price will resume a bullish trend
continuation, but with the BoE projecting a rate hike this
August we might well see price starting to climb prior to
that in the weeks to come, thus, be careful with placing
big short positions.
Happy trading
for price to remain above at least the 1.2900 level to ensure
long term bullish pressure should price go down that deep.
If price remains above the 1.3458 level then I believe we will
see a bullish trend continuation in the shorter term.
It is difficult to say when price will resume a bullish trend
continuation, but with the BoE projecting a rate hike this
August we might well see price starting to climb prior to
that in the weeks to come, thus, be careful with placing
big short positions.
Happy trading