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);
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The weekly right side is down against 1.4393. The daily has a bearish sequence however is turning up against the March 2020 lows at 1.1412. The 4 hour is turning up against 1.2244. The 1 hour right side is up against the 1.2646 lows. While above 1.2244 low expect the pair higher toward 1.3200 before it corrects the cycle from the March 2020 lows.
Short term...
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 with a bearish sequence against the 6/10/20 highs at 1.2823 . The 1 hour is turning up against 1.2249. While a bounce fails below the 6/10/20 highs expect the pair back lower under the March lows.
Sell GBPUSD
@1.2500-1.2530
TP: 1.2410
SL: 1.2560
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.
Short GBPUSD
@1.2340-65
TP: 1.2250
SL: 1.2400
Good luck !
The daily right side is down with a bearish sequence & the 4 hour right side is down with a bearish sequence against the 12/13/2019 highs at 1.3522. While below 1.2648 where the hourly is turning down the pair can see weakness continue.
Short term Signal
Sell GBPUSD
@1.2445-55
TP: 1.2380-50
SL: 1.2500
Good luck !
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 1.3066 where the hourly right side is down a turn back lower to correct the cycle from the 9/3/19 lows can further develop. ...
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 in progress as a triangle while above the 1.2954 lows where the hourly is turning up. While a bounce fails below 12/13/19 highs it can see a pullback lower to correct the cycle from the 9/3/19 lows. While it shows...
The British pound is holding onto the latest positive factors towards the buck as merchants await the Financial institution of England financial coverage resolution later right this moment. Additional bullish development above the 1.2530 degrees ought to provoke a take a look at the 1.2600 degrees. A lack of the 1.2425 help area is prone to see...
Buy (limit) above S1=1.2035.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2135.
TP4: R2=1.217.
Set the stoploss of these orders at breakout of S2=1.196.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.196.
In this situation, there is an expectation to reach the...
The British pound has surged to its highest buying and selling stage since late-July in opposition to the US greenback as dip-buyers retain management of the pair. The GBPUSD pair has hit its near-term bullish goal, at 1.2310, though the bigger upside goal is nearer to the 1.2500 stage. Bulls might want to maintain worth above the 1.2310 stage to encourage extra...
