GBP/USD: wave analysis
28 May 2018, 09:26
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.3326 |
| Take Profit | 1.3548, 1.3707 |
| Stop Loss | 1.3250 |
| Key Levels | 1.3160, 1.3293, 1.3548, 1.3707 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.3290 |
| Take Profit | 1.3160 |
| Stop Loss | 1.3350 |
| Key Levels | 1.3160, 1.3293, 1.3548, 1.3707 |
The pair can grow within the correction.
On the 4-hour chart, the downward correction of the higher level is developing as a wave (2). Locally the wave and of (2) has formed, within which the development of the fifth wave v of A has ended. If the assumption is correct, the pair will grow to the levels of 1.3548–1.3707. The level of 1.3293 is critical and stop-loss for this scenario.
Main scenario
Long positions will become relevant above the level of 1.3293 with the targets at 1.3548–1.3707. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3293 will let the pair go down to the level of 1.3160.
On the 4-hour chart, the downward correction of the higher level is developing as a wave (2). Locally the wave and of (2) has formed, within which the development of the fifth wave v of A has ended. If the assumption is correct, the pair will grow to the levels of 1.3548–1.3707. The level of 1.3293 is critical and stop-loss for this scenario.
Main scenario
Long positions will become relevant above the level of 1.3293 with the targets at 1.3548–1.3707. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3293 will let the pair go down to the level of 1.3160.
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