GBP/USD: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.2919 |
| Take Profit | 1.3350, 1.3750 |
| Stop Loss | 1.2827 |
| Key Levels | 1.2442, 1.2607, 1.2827, 1.3350, 1.3750 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.2825 |
| Take Profit | 1.2607, 1.2442 |
| Stop Loss | 1.2895 |
| Key Levels | 1.2442, 1.2607, 1.2827, 1.3350, 1.3750 |
Growth is possible.
On the daily chart, the upward first wave of the higher level (1) formed, a downward correction ended as the second wave (2), and the third wave (3) forms, within which the third wave of the lower level 3 of (3) develops. Now, the wave iii of 3 is forming, within which the wave (i) of iii has ended, and a local correction is developing as the wave (ii) of iii. If the assumption is correct, the GBP/USD pair will grow to the area of 1.3350–1.3750. In this scenario, critical stop loss level is 1.2827.
Main scenario
Long positions will become relevant above the level of 1.2827 with the targets at 1.3350–1.3750. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 1.2827 will let the asset go down to the area of 1.2607–1.2442.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
-THE END-