According to Masterforex-V Academy,
the D1 wave started by GBPUSD at 1,5853 is completed. A break out of
the 1,5853 - 1,6071 sloping channel confirms that. The mentioned way is a
part of bigger-scale move – a(C )/C of level Weekly 1 or 2.
At this point, the actual retracement
Fibo grid is built on top of wave D1 (1,5853 - 1,6239). At this point,
the price has touched 23%.
The downward targets are:
1,6092 – 38%;
1,6046 – 50%;
1,6000 – 62%.
1,6092 – 38%;
1,6046 – 50%;
1,6000 – 62%.
The downward move has wave A H2
inside. The borders are 1,6239-1,6132. The given wave is the starting
point for the mid-term trend.
