GBPUSD: Correction move probability

5 dic 2020

Hi to all,
GU was came a strong resistance level last week. As we know it is in a strong bull trend but i wait a correction fall from this resistance.

You can see the pinbar at the last candlestick. After this candle, we can wait an engulf candle too and we could named it a price action formation after that.

1.3190 is the most important support, if it come. Because it is bottom support of the uptrend. The first target of the correction should be this trend line.

I'll update this analysis with formations for entry a trade in lower timeframes next week.

Have a good weekend all. If you find it useful, please support this idea with LIKE and writing a COMMENT.

11 dic 2020

Nota

First leg complated!