GBP/USD: wave analysis
15 September 2017, 08:45
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.3437 |
| Take Profit | 1.3700 |
| Stop Loss | 1.3350 |
| Key Levels | 1.2765, 1.3140, 1.3700 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.3130 |
| Take Profit | 1.2765 |
| Stop Loss | 1.3250 |
| Key Levels | 1.2765, 1.3140, 1.3700 |
The trend is upward.
On the daily chart the upward trend within the third wave (3) of the higher level is developing. Locally the third wave of the lower level iii of 3 of (3) is forming. If the assumption is correct, the pair will grow to the levels of 1.3700–1.4000. The level of 1.3140 is critical for this scenario.
Main scenario
Long positions can be opened during the correction, above the level of 1.3140 with the target at 1.3700.
Alternative scenario
The break and the consolidation of the price below the level of 1.3140 will let the pair go down to the level of 1.2765.
On the daily chart the upward trend within the third wave (3) of the higher level is developing. Locally the third wave of the lower level iii of 3 of (3) is forming. If the assumption is correct, the pair will grow to the levels of 1.3700–1.4000. The level of 1.3140 is critical for this scenario.
Main scenario
Long positions can be opened during the correction, above the level of 1.3140 with the target at 1.3700.
Alternative scenario
The break and the consolidation of the price below the level of 1.3140 will let the pair go down to the level of 1.2765.
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