GBPUSD Weekly – September 29th, 2020

GBP/USD, Weekly chart. The fifth of the ending diagonal is over. If correct, we’re at the beginning of a new bullish market. In this case, the market should continue unfolding wave ((1)) or ((A)).

GBP/USD, 12H chart. It seems like there’s a developing upward impulse, which supposed to be wave (1). Previously, we had a zigzag in wave ((5)) of a larger ending diagonal. Considering that the high of wave 1 remains untouched, the opportunity to have a fifth-wave rally is still on the table.

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