GBPUSD 4H

GBPUSD 4H Chart - Price Action & Wave Analysis
Market made higher highs, with clear Wave 3
Monthly double bottom and strong bullish candle
Currently in Wave 4 with 5-Wave correction
Retracement should end around 38% or in rare case 50% Fibonacci
Wave 2 made deep correction to exactly 61% Fib, so shallow on wave 4 is expected
Look for significant 1h or 4h price action to catch the next impulsive Wave 5
Around 1,32000-1,32500 a stronger daily correction could start to form bigger Wave 2


Just for educational purpose. This is no investment advice. Learn how to trade on demo account first before risking your own money.

https://www.tradingview.com/x/A72BOwlB/