GBPUSD Short to Long Idea
Looking at shorting GBPUSD down to 1.35338 to 1.34793 area.
Once price gets to that area, looking for that to trigger institutional longs to complete the 1-2-3-4-5 Weekly Wave cycle.
Looking for that to be the beginning of Wave 5 on the Weekly timeframe, with a swing target of 1.47000.
Invalidation level is 1.34116 (current low)
This last mini down move before a long move up should coincide with the DXY tapping the fair value gap on the Monthly timeframe.
Shortly after, should see DXY bearish continuation, correction complete.
Once price gets to that area, looking for that to trigger institutional longs to complete the 1-2-3-4-5 Weekly Wave cycle.
Looking for that to be the beginning of Wave 5 on the Weekly timeframe, with a swing target of 1.47000.
Invalidation level is 1.34116 (current low)
This last mini down move before a long move up should coincide with the DXY tapping the fair value gap on the Monthly timeframe.
Shortly after, should see DXY bearish continuation, correction complete.
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