GBP/USD: wave analysis
14 December 2018, 10:10
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 1.2613 |
| Take Profit | 1.2475, 1.2412 |
| Stop Loss | 1.2735 |
| Key Levels | 1.2412, 1.2475, 1.2763, 1.2933 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.2770 |
| Take Profit | 1.2933 |
| Stop Loss | 1.2710 |
| Key Levels | 1.2412, 1.2475, 1.2763, 1.2933 |
The probability of decline is still strong.
On the 4-hour chart, a downward correction of the higher level is being developed as wave 2. At the moment, it is likely that wave C of 2 is being developed, within which the fifth wave of the lower level v of C is being formed. The pair will probably reach the levels of 1.2475–1.2412. The critical level for this scenario is 1.2763.
Main scenario
Short positions will become relevant below the level of 1.2763 with a target in the range of 1.2475-1.2412. Implementation period: 5-7 days.
Alternative scenario
Breakout and consolidation of the price above the level of 1.2763 will let the pair grow to the level of 1.2933.
On the 4-hour chart, a downward correction of the higher level is being developed as wave 2. At the moment, it is likely that wave C of 2 is being developed, within which the fifth wave of the lower level v of C is being formed. The pair will probably reach the levels of 1.2475–1.2412. The critical level for this scenario is 1.2763.
Main scenario
Short positions will become relevant below the level of 1.2763 with a target in the range of 1.2475-1.2412. Implementation period: 5-7 days.
Alternative scenario
Breakout and consolidation of the price above the level of 1.2763 will let the pair grow to the level of 1.2933.
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