The GBP/USD has reached a key resistance level on the D1 timeframe.
GBPUSD is correcting the major rally that started in September 2019. The impulsive move is labelled (i)-(v) in wave A. The correction which seems to be unfolding as a Zigzag in wave B is yet to be completed. I’m looking for price to move higher in the shorter cycle to complete wave (b) of C around 78.6% Fib, then look for a short entry to take advantage of wave (c) of B.
We have not received a harmonic ea alert setup at this point, but if price breaks above 1.334635, then we will look to go long with targets of 1.346719 – 1.358011
If price breaks below 1.308683, then we will go short with targets of 1.298183 – 1.28491