GBP/USD Waves Explain First Bullish Rally Since Brexit

Discussion in 'Technical Analysis' started by Kaitlin, Jul 13, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
    Likes Received:
    The GBP/USD broke the bear flag channel (dotted green) and is showing bullish momentum for the first time since the Brexit referendum. The wave count, however, is still marked as bearish with a wave 1-2 (pink) due to the large GBP/USD decline prior to it. A break above the 100%[​IMG]

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