According to the 1 hour and 4 hour charts, the GU still has a ways to go short.
GU 1 Hour
Looking at the 1 hour chart, we see price has formed a head and shoulders pattern and also a bear flag with targets residing at 1.4865 and 1.4856 at which point we “could” have a bit of a retracement before continuing on to the 4 hour chart.
GU 4Hour
The GU 4 hour chart has presented us with an almost perfect AB=CD pattern ( my absolute favorite pattern). The ultimate target residing at 1.4393 but sooner targets at the FE 38.2 and so forth. We will most likely continue to form these patterns on the smaller time frames in order to bring the price to the ultimate h4 target of the FE 100.
