GBPUSD 4H Wave Analysis

GBPUSD is currently not in an impulsive phase.
Compared to AUDUSD or EURUSD, GBP still needs one more move to the downside
I think Wave X just finished and we'll see the finishing wave z
This wave could end around 38% Fib retracement or extend to 50% Retracement
Even an overextension to 61% is possible, but highly unlikely
As always be patient, watch the market
Watch how it react around key areas and look for signifikante price Action signals!
Only after clear Entry Signal, place a trade under proper risk management rules



We should then see the next impulsive phase, which is wave 5 to new daily high.

This is for educational purpose only. This is no investment advice. Trade with demo account first before risking your own money.