GBPUSD 8H Wave Analysis

GBP/USD made nice higher Highs and bullish engulfing on monthly chart
Currently in ABC correction with wave C to complete
Wave C should at least correct to 38% Fib Level, but deeper correction is more likely

We have multiple support at around 1.26
Rising Trendline
Falling Channel/TL Retest
Horizontal Support
50% Fibonacci Level


We are currently short since yesterday. Looking for significant price action around the two levels and will close the short around there
IF major price action occurs around this level, a long position will be opened to ride the Wave 3 of Wave 3 to new highs

Watch out for GBP News, timing should line up with GB Elections!!