GBP/USD: wave analysis
18 May 2018, 09:39
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 1.3515 |
| 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 probability of the pair reducing remains.
Within the H4 timeframe, the development of a downward correction of the higher level is presumably continuing as the wave (2). Locally, a wave A of (2) is being formed, within the framework of which there is a development of the fifth wave v of A. If the assumption is correct, the pair may continue to fall to the level of 1.3268. The level of 1.3620 is critical and stop-loss for this scenario.
Main scenario
Short positions are relevant below the level of 1.3620 with target at 1.3268. Implementation period: 3–5 days.
Alternative scenario
Breakout and consolidation of the price above the level of 1.3620 will help the pair continue growth to the levels of 1.3738–1.3800.
Within the H4 timeframe, the development of a downward correction of the higher level is presumably continuing as the wave (2). Locally, a wave A of (2) is being formed, within the framework of which there is a development of the fifth wave v of A. If the assumption is correct, the pair may continue to fall to the level of 1.3268. The level of 1.3620 is critical and stop-loss for this scenario.
Main scenario
Short positions are relevant below the level of 1.3620 with target at 1.3268. Implementation period: 3–5 days.
Alternative scenario
Breakout and consolidation of the price above the level of 1.3620 will help the pair continue growth to the levels of 1.3738–1.3800.
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