GBP/USD – HOURLY CHART
We are still in the Bearish AB swing on Sterling. Price fell from the 618 fib during Asia and we are close to the BF786 area. If we reach that price and get a bullish cs formation we will go long. Else if price continues to fall we will wait for a new B to form and start all over again.
SHORT: Will be going short only IF:
We get to the 618/786 and get a bearish cs formation. The 618 will be good for 60 pips limit and the 7869 will be a PT to the BF786.
LONG: Will be going long today only IF:
We need price to hit the BF786, then give us a bullish cs formation. If this happens that trade will be good for a PT to the 786 since we would have had a 618 prior.
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