GBPUSD TRADE SETUP

11 feb 2020

The pair ended a cycle up in wave ((1)) from the 9/3/2019 lows at 1.3519 on 12/13/19. From there a cycle in wave (A) ended at 1.2904 & wave (B) ended on 12/31/19 at 1.3284 to correct the cycle lower from the 12/13/19 highs . While below 1.3210 where the hourly right side is down a turn back lower to correct the cycle from the 9/3/19 lows further develop. While it shows it will remain above the 9/3/2019 lows where the 4 hour right side is up it can see another swing higher in the correction of the cycle lower from the 7/15/14 highs.