GBP/USD: wave analysis
04 January 2018, 08:47
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.3524 |
| Take Profit | 1.3657, 1.3700 |
| Stop Loss | 1.3460 |
| Key Levels | 1.3296, 1.3494, 1.3657, 1.3700 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.3490 |
| Take Profit | 1.3296 |
| Stop Loss | 1.3550 |
| Key Levels | 1.3296, 1.3494, 1.3657, 1.3700 |
The trend is upward.
On the 4-hour chart the fifth wave 5 of (1) of the higher level is developing. Locally the wave v of 5 of the lower level is forming, within which the pair will grow to the levels of 1.3657–1.3700. The level of 1.3494 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 1.3494 with the targets at 1.3657–1.3700.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3494 will let the pair go down to the level of 1.3296.
On the 4-hour chart the fifth wave 5 of (1) of the higher level is developing. Locally the wave v of 5 of the lower level is forming, within which the pair will grow to the levels of 1.3657–1.3700. The level of 1.3494 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 1.3494 with the targets at 1.3657–1.3700.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3494 will let the pair go down to the level of 1.3296.
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