Per GBPUSD 1 W chart this pair has been in a bearish downtrend for last 2 YEARS. Also, noted Major Elliott impulse wave (12345). Pair completed all waves, except last 4-5 wave downwards. This 4-5 wave, in my opinion will break down into its own smaller Elliott impulse wave (12345) for rest of 2016.
To left , in February of this year (2016) GBPUSD pair came down to a HISTORICAL support level (1.38354) of this pair, both on weekly and monthly chart. This pair will test this support area once again, before end of year- making a double bottom to start pair being Bullish next year in 2017. This is a weekly chart, so price action will give you big picture, but details and technical s will give you pieces of puzzle for you to trade successfully.
Good Successful Trading is by always having a Good Plan & Strategy. Find a Strategy that works for you.
To left , in February of this year (2016) GBPUSD pair came down to a HISTORICAL support level (1.38354) of this pair, both on weekly and monthly chart. This pair will test this support area once again, before end of year- making a double bottom to start pair being Bullish next year in 2017. This is a weekly chart, so price action will give you big picture, but details and technical s will give you pieces of puzzle for you to trade successfully.
Good Successful Trading is by always having a Good Plan & Strategy. Find a Strategy that works for you.