Hello traders, regarding GBP/USD, on Friday the wave moved slightly in the wrong direction, temporarily invalidating my expected triangle in the fourth wave in (a) in (2) in (3) or in the higher (C), but it still could take shape starting from Monday. If we don't see a breakout on GBP/USD from Friday's low, and the pair bounces slightly upwards, then the triangle remains valid. We anticipate a retracement upwards followed by a sharp decline in the fifth wave in (a) in (2) in (C) or in the higher (3). If a breakout occurs, then we will continue south in the fifth wave in (a) with a slightly different labeling. In any case, we are expecting a downward movement on GBP/USD, with a breakout towards 1.3100 likely, and then we will see how it plays out.
