GBPUSD Soars 160 Pips from Blue Box as Buyers Resume
GBPUSD has been on a bullish cycle since October 2022, albeit a corrective one. This bullish cycle is correcting the long-term sell-off from November 2007. If not correcting the cycle from such a long time, then it is at least correcting the bearish run from May 2021. From the low of September 2022, where this cycle started, we expect a 3-swing bounce first and possibly a 7-swing later. Meanwhile, the 3-swing bounce has not yet reached the extreme. Thus, buyers should continue to dominate from the dip. That’s the short to medium-term idea our charts are showing to members. In a bullish sequence like this, we like buying pullbacks in 3, 7, or 11 swings from the blue box. Conversely, we like selling 3, 7, or 11-swing bounces from the blue box when the sequence is bearish.
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