GBPUSD continues the uptrend
Yesterday I posted a bullish view on GBPUSD, as I mentioned there, for clear confirmation of a bullish pattern we should wait for completing of wave 5 (on 5 min chart).
During the Asian trading session the cable was trading in the range of previously formed wave 3. Since the max level of wave 3 was established, price action on GU made 3-wave downside move, then 5-wave uptrend formation and finally retraced to the latter significantly.
In this situation we can awain GU climbing higher till at least 1.499. To prove the bullish scenario, it should break 1.4995 level, in that case it can for sure form 5 parts of wave 5 (possible parts 1 and 2 are already depicted on a chart).
Buy orders can be put with SL right below 1.492 level. If 1.4995-1.5 level is broken, SL can be pur lower, to 1.487 in order to avoid fake closure.
The chart is attached.
