The possibility of good entry @ GU
As I’ve written several hours before, cable made a downside move, that was significant. The pair succeeded to decline lower that 50% Fibo line in a few hours.
Now it seems to me a good entry point to test the possibility of the uptrend continuation, as the risk ratio is profitable. Buy orders can be opened with stops below 1.492 and targets above 1.522, as shown at 15min chart.
As the pair has broken the previous peak ~1.52 (you can see it in my previous entries about GBPUSD), the probability of forming of wave 5 is very high (the impulse, according to Elliott, must have 5 waves).
