GBPUSD resuming its counter trend rally towards 1.3300 ?
The daily chart view for GBPUSD could be suggesting that a 5 wave impulse drop might be complete at 1.2650/60 levels last week. The subsequent rally could be indicative of a meaningful bottom in place and that bulls are expected to remain in control till prices stay above 1.2660 levels, going further. Furthermore, please note that a push through 1.2950/60 levels, could add more confidence towards a counter trend probability. If the above wave count holds good, GBPUSD could rise through the coming weeks, attempting a push through 1.3300 levels at least (fibonacci 0.382 of drop between 1.4360/70 through 1.2660 levels respectively).
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
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