GBPUSD 4H

14 nov 2019

• GBPUSD 4H Chart - Price Action & Wave Analysis
  
• Market made higher highs, with clear Wave 3
  
• Monthly double bottom and strong bullish candle
  
• Currently in Wave 4 with 5-Wave correction
  
• Retracement should end around 38% or in rare case 50% Fibonacci
  
• Wave 2 made deep correction to exactly 61% Fib, so shallow on wave 4 is expected
  
• Look for significant 1h or 4h price action to catch the next impulsive Wave 5
  
• Around 1,32000-1,32500 a stronger daily correction could start to form bigger Wave 2
  

Just for educational purpose. This is no investment advice. Learn how to trade on demo account first before risking your own money.