Tag Archives: correction

Sterling pushing for a new high

The GBPUSD is trading at a new high above 1.6100 which puts pressure on EURGBP which can post an A-B-C correction. The measured move target of this move is in the range of the bullish candle that broke above the previous swing high leaving the uptrend valid.
The price action still indicates an uptrend therefore I am still looking for a buy signal below 0.8600.