GBPUSD intraday setup

One of the best indexes to find turning points at intraday time frame are Intraday changes and Volatility. GBP is perfectly working with projection lines calculated by Sp, Q-Sp and Turbo Cycles modules.

Here is current setup of Intraday changes index. Depending on current situation I add or exclude cycles mostly within 200-1000 period.

It is resulted into this projection curve:

Application of Volatility as an index gives more sensitive projection similar to the one generated by Turbo cycles. Here is Q-Sp Volatility setup:

Clicking on more more sustainable but lesser period cycles provides just additional volatility of projection line. So I left only cycles with period above 50. It gives the following projection:

Pay attention that date and time of expected bearish turning point is almost coincided. The same result comes from Turbo cycles module analysis. As a rule I don't apply it, but it becomes very useful when it fits previous turning points. Have a look:

Thus, it is reasonable to expect bearish reversal today from 5 p.m to 7 p.m GMT. Let's keep an eye to estimate the forecast's accuracy.

If we are talking about the time of staying bearish, then it will be reasonable to make short position in the first half of the next week according to H4 projection line:

However, higher time frame projection involves higher deviations of turning points. So, it is equally probable to set local high today or next week.