GBP/USD: wave analysis
20 September 2017, 09:12
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.3526 |
| Take Profit | 1.3700, 1.4000 |
| Stop Loss | 1.3460 |
| Key Levels | 1.2765, 1.3266, 1.3700, 1.4000 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.3260 |
| Take Profit | 1.2765 |
| Stop Loss | 1.3425 |
| Key Levels | 1.2765, 1.3266, 1.3700, 1.4000 |
The upward trend is in force.
The daily chart continues to develop an uptrend within the third wave (3) of the higher level. Locally, apparently, the third wave iii of 3 of (3) of the lower level is forming. If the assumption is true, then the pair's growth will continue to the levels of 1.3700-1.4000. The level of 1.3266 is critical for this scenario.
Main scenario
Buy during corrections, above the level of 1.3266 with a target in the range of 1.3700-1.4000.
Alternative scenario
Breakdown of the level of 1.3266 will allow the pair to continue the decline to the level of 1.2765.
The daily chart continues to develop an uptrend within the third wave (3) of the higher level. Locally, apparently, the third wave iii of 3 of (3) of the lower level is forming. If the assumption is true, then the pair's growth will continue to the levels of 1.3700-1.4000. The level of 1.3266 is critical for this scenario.
Main scenario
Buy during corrections, above the level of 1.3266 with a target in the range of 1.3700-1.4000.
Alternative scenario
Breakdown of the level of 1.3266 will allow the pair to continue the decline to the level of 1.2765.
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