GBPUSD Short
Hello everyone, Here you go. Monthly in Red, Weekly in Blue and Short term in Pink
To be clear, Long term GBP is bullish but will it go straight up, of course no way. So let's try to take some pips when there is a possibility.
Ideally I wait Pink 23% to be broken below to confirm a downtrend short term but I am just being impatient and let me know if it's unreasonable.
Considering the top is in place at 1.3438, what should be the target way down, ideally 50% to 61.8% short term. Just see, last 2 times the price never reached weekly fib level 38% which makes me biased that low is also in place for now and should try to test 23% weekly fib level and then resume lower again towards 50% weekly fib. But that's a long way to go, it's forex and they don't move fast. Just remember these are all my learnings and then opinion. do your DD please, Put some time to understand the chart. take your own decision.
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source https://www.smartmoneymanagement.info/2021/12/gbpusd-short.html
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