Potential short GBPUSD from updated h1 level
Orange lines - daily wave, classic ABC continuation
Green/Red lines - h1 exhaustion trading levels for the daily C point
Magenta lines - m15 exhaustion trading levels for low time-frame reactions
After the 1.4222 level failed to materialize into the larger reversal we were expecting, we came really close to an h1 trading signal on the 1.4278 test but one confirmation was lost.
We have updated a new h1 level - 1.4378. Due to the proximity to 1.4400 this round level might get tested as well. At this point most of our trading logic is respected and we anticipate a valid h1 signal to occur shortly in this price range. The next short consideration beyond this is significantly higher, above 1.4600. The larger context is the daily/weekly reversal.
Green/Red lines - h1 exhaustion trading levels for the daily C point
Magenta lines - m15 exhaustion trading levels for low time-frame reactions
After the 1.4222 level failed to materialize into the larger reversal we were expecting, we came really close to an h1 trading signal on the 1.4278 test but one confirmation was lost.
We have updated a new h1 level - 1.4378. Due to the proximity to 1.4400 this round level might get tested as well. At this point most of our trading logic is respected and we anticipate a valid h1 signal to occur shortly in this price range. The next short consideration beyond this is significantly higher, above 1.4600. The larger context is the daily/weekly reversal.
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Low time-frame management point
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H1 trade not confirmed but a decent low tf reaction
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Low time-frame partial profit point - 1.4308
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Partial profit point 2 - 1.4180