Tug of War
Hey Gang.
In my analysis of GBPUSD It seems though it is currently in a correction from its impulse to the down side and to me it looks like it will continue to the downside once it has completed the structure. I will wait for a retest to that range I have indicated on chart and will look for a flag formation on a lower time frame (1 hour). my stops would be 1.31900 and a take profit at the bottom of that contracting flat. I will also be looking for a break of the contracting flat and if it does I will hold my position and move my stops.
In my analysis of GBPUSD It seems though it is currently in a correction from its impulse to the down side and to me it looks like it will continue to the downside once it has completed the structure. I will wait for a retest to that range I have indicated on chart and will look for a flag formation on a lower time frame (1 hour). my stops would be 1.31900 and a take profit at the bottom of that contracting flat. I will also be looking for a break of the contracting flat and if it does I will hold my position and move my stops.
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