GBPUSD, Possible REVERSAL With This FORMATION!

Hello,

Welcome to this analysis about GBPUSD and the daily timeframe perspective. In recent times GBPUSD continued with its established downtrend and tested further crucial zones within the structure. However now GBPUSD is forming a decisive formation that can indicate the main reversal from where GBPUSD can increase volatilities again. Therefore when looking at my chart we can watch there how GBPUSD is now developing this main broadening-wedge-bottoming-formation in which GBPUSD has a coherent wave-count with the waves A to D already completed. Now as the wave E forms GBPUSD with this wave completes the whole wave-count and approaches the lower boundary from where GBPUSD already increased bouncings. When GBPUSD manages to stabilize further in this structure and continue into the upper direction this will lead to a completion of the formation with a breakout above the upper boundary as seen in my chart, such a breakout will activate the target zones and once these zones have been reached it has to be elevated again how GBPUSD continues from there on further, it will be an interesting development ahead.

In this manner, thank you for watching the analysis, all the best!
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Information provided is only educational and should not be used to take action in the markets.