GBP/USD - If it doesn't go lower it will go higher
This is a tricky one, but aren't they all tricky ? Cable is nicely contained in a month-long corrective channel and is now at the bottom. At the end of this C-wave (of wave B) there is a small ending diagonal and a break north would send Cable likely higher.
A break south from here would probably result in a massive downmove because it's rare that a corrective channel breaks on the "wrong" side but "rare" doesn't mean "impossible".
Long-term I think this pair will get hit much harder, but I could see a move higher from here.
A break south from here would probably result in a massive downmove because it's rare that a corrective channel breaks on the "wrong" side but "rare" doesn't mean "impossible".
Long-term I think this pair will get hit much harder, but I could see a move higher from here.
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