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...
GBPUSD is a good sell right now as there are a number of patterns that point towards the southward trajectory of the pair. The pair initially went above the broadening channel, but later on reverted back with a head and shoulder pattern (blue shaded area) which make bears on the winning side, with the target of testing the lower trend line of the channel at...
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...
Brexit matters are hard hitting for sterling. As per Wave analysis we can clearly see still Sterling trading on irregular corrective structure. I am expecting one more wave downside upto 1.1900 handle is possible.
GU has been in a daily correction since August,2018.
Based on EW count it has been making a flat correction and now C leg of that flat is about to be completed.
Based on price action I'm still anticipating one more move UP to break previous high and then make its way down.
As You Can see the chart of GBPUSD
break the broadening formation pattern
You can short on current price below is the target
Note: This is only for Educational Purpose this is not an Investment advice.
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GBPUSD on FX can be Sold at 1.28600 with SL of 1.29315 and Target of 1.25260. Its a good opportunity and has consistently taken resistance at down-trending line. Take advise from your financial advisor before investing.
a clear divergence have been formed between market trend MACD indicator which indicates a strong reversal of trend as market has been consolidated for a long time on pivot point
any break could cause a good fall for sterling with a target of 1.2778,1.2699 and 1.2564
alternate scenario any break above 1.2989 may continue the buy trend