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Forex Trading Technical Analysis

Hello Traders I'm going to be analyzing the (GBPUSD)

we're gonna do a quick recap from the daily down to the one-hour time frame so another little bit of a pushdown today on the pound as you can see the pound the dollar I still suspected it is a cut into this move up I just don't think that the news on Wednesday the federal funds rate most likely is going to cause this to continue the uptrend

let's head down to the four-hour time frame for an hour time frame is where you can start to see the structure of
this move down which is still lower lows lower highs to only that it's either way or possibly a wave one next move should be up for either way b or possibly a wave two then it should go back down again for a wave C or a wave three

let's head down to the one-hour time frame under what our time frame is where you can see that we have continued to make lower lows the whole way down telling us that there was one just big downtrend

that we should have never been looking for Longs at any point during this trend at least until we get some sort of a breaker starting to the upside I would still be looking for sorts in a downtrend so if it does end up going up make it another lower high another lower higher I would continue to look for sorts in a downtrend now it does seem like it would go up and break structure at some point and at that point, it's probably going to be the start of an ABC of B which is most likely an ABC coincidence and this whole move down or possibly an ABC of two

Happy Trading Good Luck