GBP/USD -> IN-DEPTH WAVE ANALYSIS - 1700 PIPS POTENTIAL?
Whatever the outcome of Brexit may be the chart speaks for itself so this is purely speaking out of the technicals.
Feel free to add your opinion concerning how the fundamentals could affect the pair.
Looking at the Weekly time-frame we are currently trading in the form of a Descending Wedge / Ending Diagonal pattern (wave 4 within the pattern), which is what makes me believe there is the potential for upside with the target being the most recent swing lower high (wave 2 of the wedge) at around the 1.3300 mark which also happens to be 2019's high.
Stay tuned for the updates :)
*DISCLAIMER*
This post is solely for educational purposes and does not constitute any form of investment / trading advice.
Feel free to add your opinion concerning how the fundamentals could affect the pair.
Looking at the Weekly time-frame we are currently trading in the form of a Descending Wedge / Ending Diagonal pattern (wave 4 within the pattern), which is what makes me believe there is the potential for upside with the target being the most recent swing lower high (wave 2 of the wedge) at around the 1.3300 mark which also happens to be 2019's high.
Stay tuned for the updates :)
*DISCLAIMER*
This post is solely for educational purposes and does not constitute any form of investment / trading advice.