Gbpusd 4 Aug 2023 update

٤ أغسطس ٢٠٢٣

Need price to hold below, if we see an hourly bearish candle, that is a bonus and hint that further drop is coming.

The move up after NFP is strong, if bears can stop it under the breakdown line plus a bearish candle, this could be a classic draw in the crowd for a fake move up before lower.

Too earlier to know, but look good if the hourly candle give a good bearish stick.

٧ أغسطس ٢٠٢٣

ملاحظة

impulsive 5 waves down from the peak at the lower time frame, expecting a correction before continuation for a bigger move lower

٨ أغسطس ٢٠٢٣

ملاحظة

dropping as expected, looking for 1.261 region for a short term bounce before lower again

٩ أغسطس ٢٠٢٣

ملاحظة

no 5 waves down on the hourly time frame, suggesting it is in some kind of ranging correction, perhaps yet another test of the breakdown line

with cpi coming these few days, anything can happen, as long price do not close back above 1.28(daily close), still bearish