GBPUSD Using Advanced Patterns to predict next breakout
GU is in a longer term cascading down trend..
The last two waves broke to the downside
after an ABC correction. A potential AB=CD move or
Bear Cypher point to one more move
up before the final correction and
breakout to the downside. Conversely a BAT
is hinting that the breakout will occur
sooner...retest then move lower.
I favour the Cypher given the nice
support coming into the 1.272 (Green Arrow)
The last two waves broke to the downside
after an ABC correction. A potential AB=CD move or
Bear Cypher point to one more move
up before the final correction and
breakout to the downside. Conversely a BAT
is hinting that the breakout will occur
sooner...retest then move lower.
I favour the Cypher given the nice
support coming into the 1.272 (Green Arrow)
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Plan B
