GBPUSD: 6.23am

Glad I banked the dribbling shorts yesterday when nothing was happening. Looks like a triangle to me, which suggests 4th wave and counts as such. I am taking a long here and will add on retest of a breakout. The 6day trend line is bullish blue and rising with price above the retracement cloud, although the latter would be a better place to add long of course. The 8hr volatility channel has expanded to provide a restriction free thrust up to the 6day dma near 1.5223, which also looks like the depth of the triangle base, and takes price into the monthly retracement zone. Of note is how this triangle/consolidation zone is happening after a thrust above the monthly trend line and is holding there, although the latter is still holding red for bearish.Worth a re-look at the daily chart regarding price location on the weekly and monthly volatility channels and the weekly momentum cluster. I maybe a little early, but I don't fancy down at all, so happy to take a stab uphill and make my play for the day.