GBP/USD: Triangle Still In Progress; Wave D May Reach For 1.41-1.4170
Gregor Horvat | Apr 21, 2016 10:58AM ET
GBP/USD is turning sharply down from 1.4439 where pair might found a temporary high if we consider a five subwave rise from 1.4048 which we labeled it as wave C) that might have completed a big three waves of recovery. Notice that price is now also approaching the trendline support of an EW channel where successful breakout would confirm a reversal for three waves down into wave D.
GBP/USD, 1H
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