GBPUSD counter trend to touch 1.3175 near term
GBPUSD is working on potential Wave 2 corrective wave, which could reach 1.3175 mark to terminate. Note that it is also fibonacci 0.618 retracement of Wave 1 as highlighted on the chart view. If the above structure is correct, bears might be back from 1.3175/1.3200 handle as Wave 3 resumes lower towards 1.2200. Ideally 1.3500 should hold from here on.
Remain short, add more around 1.3175, stop @ 1.3500, target is open.
Good luck!
Remain short, add more around 1.3175, stop @ 1.3500, target is open.
Good luck!
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