GBPUSD is currently forming the fifth wave on the daily chart.
Looking at H1 and checking the secondary wave of 5 wave,as a candidate for counting,
1) Currently it completes up to the X wave of corrected 5 waves (double zigzag), and it enters Y wave from now.
2) After the C wave, the next five propulsion waves are formed.
Two scenarios are possible.
If the price goes above 1.30200, because scenario 1 is denied, look for a long opportunity at aimed at 1.32500(max)
if it goes under 1.29400, scenario 2 is denied, so consider a short at aimed at 1.28200(max)
Since reviewing until just before entering into the trade at front of the chart, this interpretation may change at any time.
Looking at H1 and checking the secondary wave of 5 wave,as a candidate for counting,
1) Currently it completes up to the X wave of corrected 5 waves (double zigzag), and it enters Y wave from now.
2) After the C wave, the next five propulsion waves are formed.
Two scenarios are possible.
If the price goes above 1.30200, because scenario 1 is denied, look for a long opportunity at aimed at 1.32500(max)
if it goes under 1.29400, scenario 2 is denied, so consider a short at aimed at 1.28200(max)
Since reviewing until just before entering into the trade at front of the chart, this interpretation may change at any time.