GBPUSD Wave 3 /C underway below 1.2675

3 nov 2020

GBPUSD has carved a meaningful top at 1.3488. Wave structure since then is looking like a potential zigzag underway below 1.2675. It remains to be seen if the drop unfolds into 5 waves. At the moment, a potential Wave C might be unfolding since 1.3175 mark. Any intraday pullbacks should find resistance around the 1.3050/70 zone as marked here. Ideally prices should stay below 1.3175 levels.


Remain short, stop @ 1.3500 target @ 1.2200


Good luck!