GBP/USD: wave analysis
15 May 2018, 09:33
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 1.3548 |
| Take Profit | 1.3268 |
| Stop Loss | 1.3620 |
| Key Levels | 1.3268, 1.3620, 1.3738, 1.3800 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.3630 |
| Take Profit | 1.3738, 1.3800 |
| Stop Loss | 1.3570 |
| Key Levels | 1.3268, 1.3620, 1.3738, 1.3800 |
The pair can decrease.
On the 4-hour chart, the downward correction of the higher level is developing as a wave (2). Locally the wave and of (2) is forming, within which the fourth correctional wave of the lower level iv of A has formed, and the wave v of A is developing. If the assumption is correct, the pair will fall to the level of 1.3268. The level of 1.3620 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant below the level of 1.3620 with the target at 1.3268. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.3620 will let the pair grow to the levels of 1.3738–1.3800.
On the 4-hour chart, the downward correction of the higher level is developing as a wave (2). Locally the wave and of (2) is forming, within which the fourth correctional wave of the lower level iv of A has formed, and the wave v of A is developing. If the assumption is correct, the pair will fall to the level of 1.3268. The level of 1.3620 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant below the level of 1.3620 with the target at 1.3268. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.3620 will let the pair grow to the levels of 1.3738–1.3800.
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