GBPUSD CURRENTLY THE PRICE MOVING TOWARDS MAJOR RESISTANCE..
WHAT WE CAN EXPECT???
GREEN
IF THE MOMENTUM IS LESS THEN GBPUSD CAN TAKE U-TURN AROUND 1.33300
WAIT FOR PRICE CONFIRMATION AND CAN GO SHORT....
TAKE PROFIT @ 1.31700
RED
IF THE MOMENTUM IS HIGH IT CAN BREAK THE RESISTANCE AND NOW IT WILL ACT AS SUPPORT
WAIT FOR PRICE...
GBPUSD price now in resistacne zone what we can except...
1) RED
Price can Make a little correction moves downwards upto 1.31200 and then it can move upwards
Wait for Price Confirmation @ 1.31200 and then GO LONG...
Take Profit @ 1.32600
2) BLUE
Price move to new support level Where it will meet upwards trendline @ 1.29950 - 1.300000
...
The daily is turning up against the March 2020 lows at 1.1412. The 4 hour is turning down against 1.3485. The 1 hour right side is down against 1.2866 to correct the cycle from the March 2020 lows. While it shows it will remain above there later it can see another swing higher to correct the cycle lower from the 2018 highs at 1.4384.
BUY...
We have a 5 Wave Downward Impulse structure complete and now starts the Upwward Correction
Here We have a Wave A which is a Upward Correction and this is a Type 2 Zigzag (where Wave A or C is a proper 5 Wave Impulse whilst the other is a ABC);
...
The 4-hour is turning down against the 6/10/20 highs at 1.2815 . The 1 hour is turning up against 1.2440. While a bounce fails below the 6/10/20 highs expect the pair back lower under the March lows.
Short term trade setup
LONG GBPUSD
@1.2460-40
TP: 1.2600
SL: 1.2510
Good luck !
The 4-hour right side is down against 12/13/2019 peak (1.3522) & shows a bearish sequence. 1 hour is also down in short term cycles against 1.2689 high. Near-term, while bounces fail below there expect pair to extend lower 1 more push before the last leg higher against 12/13/2019 peak can be seen to complete the 7 swings from March lows & resuming the downside.
The 4-hour right side is down against 12/13/2019 peak (1.3522) & shows a bearish sequence. 1 hour is turning down against 1.2814 high. Near-term, while bounces fail below 1.2814 high expect pair to extend lower 1 more push lower before correction against 12/13/2019 peak resume as a zigzag structure.
BUY GBPUSD
@ 1.2410-2375
Target: 1.2550
SL: 1.2320
Good luck !
The 4 hour right side is down against 12/13/2019 peak (1.3522). 1 hour is turning down against 1.2645 high. Near-term, while bounces fail below 1.2645 high and more importantly below 1.3522 high expect pair to extend lower.DO NOT TRADE ON BUYING SIDE
The pair ended a cycle up in wave ((1)) from the 9/3/2019 lows at 1.3519 on 12/13/19. From there a cycle in wave (A) ended at 1.2904 & wave (B) ended on 12/31/19 at 1.3284 to correct the cycle lower from the 12/13/19 highs . While below 1.3210 where the hourly right side is down a turn back lower to correct the cycle from the 9/3/19 lows further develop. While...
The pair ended a cycle up in wave ((1)) from the 9/3/2019 lows at 1.3519 on 12/13/19. From there a cycle in wave (A) ended at 1.2904 & wave (B) is favored ended at 1.3287. While a bounce fails below 1.3118 where the hourly is turning down it can see a pullback continue to correct the cycle from the 9/3/19 lows. While it shows it will remain above the 9/3/2019...
The pair ended a cycle up in wave ((1)) from the 9/3/2019 lows at 1.3519 on 12/13/19. From there a cycle in wave (A) ended at 1.2904 where the hourly is turning up. While a bounce fails below the 12/13/19 highs it can see a pullback correct the cycle from the 9/3/19 lows. While it shows it will remain above the 9/3/2019 lows where the 4 hour right side is up it...
The pair ended a cycle up in wave ((1)) from the 9/3/2019 lows at 1.3519 on 12/13/19. From there a cycle in wave (A) ended at 1.2904 where the hourly is turning up. While a bounce fails below the 12/13/19 highs it can see a pullback correct the cycle from the 9/3/19 lows. While it shows it will remain above the 9/3/2019 lows where the 4 hour right side is up it...
Hi Friends,
GBPUSD trading near to the imparttent support level on short term. As per wave count GBPUSD on more leg upside is possible WAVE 5 of c. FOR this count 1.2110 level act as invalidation level.
ENTRY & EXIT SIGNAL:
LONG @ 1.2180 -- SL 1.2110 -- TP -- 1.2330
