GBPUSD Wave C to unfold

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 GBPUSD daily chart


As seen in the above chart, prices are moving in a broad range of 1.3150-1.2100 levels. As we can see, the pair has recently bounced from the confluence zone or 138.2% of wave a to wave b where wave c of wave B has ended which is near to 1.2100 levels. Also there was a previous swing support as seen in the above chart.

Prices have taken more time to form wave B and it is now unfolding wave C which can go above its previous swing high placed at 1.3450 levels. This up move will be longer and in every dip one can buy for the level of 1.3450 levels.

The bias is positive for GBPUSD as it can move higher towards 1.3450 levels with stoploss of 1.2250 levels. CMP 1.2630

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