Get started
Trend_Analyst

SHORT GBPUSD 30m Chart Possible Elliot Wave Count

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
Trend_Analyst  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Wave Analysis Chart Patterns GBPUSD Elliott Wave short
6
0
trendanalysis waveanalysis chartpattern gbpusd elliottwaves short
Friday the 15th saw GBPUSD push higher up into resistance just below the 1.29000 level. I have marked on the chart a possible 5 wave move which would indicate Monday the 18th should see some retracement back to the 1.28600 level (wave 4) before moving higher again to retest resistance at 1.29000 before moving higher to complete wave 5.
Stochastic has been in oversold territory for a while which suggest we could soon see momentum turn to the downside.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.