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GBPUSD: Bulls May Slow Down At Intraday Resistance 1.2950- 1.3000Top ↑ 
April 28 2017
GBP is the strongest this week, now again breaking to a new high against the USD, so market participants are becoming more and more bullish on this currency, but from a technical perspective we believe they should be very careful. Reason is an EW structure which shows that market went out of a triangle this week, therefore it's in final stages of a higher degree structure so upside can be limited, especially if we also consider that we can count five sub-waves up in wave 5 of 3). We see some nice Fib. resistance near 1.2950-1.3000. A reversal into a new correction can be seen from the highlighted area. GBPUSD, 1H .png) Newsletter archive
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