GBPUSD bullish scenario (just an idea)

25 Okt 2022

One can count 5 waves in the ascending triangle which shows that we should be breaking out to the top of the ascending triangle. (Breakout to the other side, than the 5th wave has closed). We have already broken out of the triangle and are testing another resistance line at 1.1478 right now. If we can clearly get over that resistance the triangle breakout is probably not a fake out and we can aim for the height of the triangle entry. Still there is another resistance at 1.2285 that we have tested in the past.