GBPUSD-EW long term analysis-nice leading diagonal forming
A textbook leading diagonal is forming, a 5-3-5-3-5 structure.
We can see also perfect ratios between alternate waves:
wave 3= 0.61 wave 1
wave 4= 0.61 wave 2
I expect a final wave 5 to form reaching 0.61 wave 3 near round level 1.6000. Im opening a long position now but watching the price action closely, the target shown is just for information purpose.
After the 5 wave completion i will be looking to sell expectign a strong decline.
Best regards
We can see also perfect ratios between alternate waves:
wave 3= 0.61 wave 1
wave 4= 0.61 wave 2
I expect a final wave 5 to form reaching 0.61 wave 3 near round level 1.6000. Im opening a long position now but watching the price action closely, the target shown is just for information purpose.
After the 5 wave completion i will be looking to sell expectign a strong decline.
Best regards