GBPUSD - Forex Majors | Elliott Wave Patterns | November 2019

GBP/USD - Elliott Wave Technical Analysis
Structure & Degree: Complex Double Three in Intermediate Degrees (W)(X)(Y) (pink)
- Intermediate (W) (pink): Zig-Zag with Leading & Ending Diagonal
- Intermediate (X) (pink) : Complex Double Three in Minors WXY (turquoise)
- Intermediate (Y) (pink) - Simple Flat formation, with a Leading Diagonal in Minor A (blue) & a Complex Triple Three in Minor B (blue)
Minor B (blue) incomplete, Minor C (blue) pending support
Triple Three Structure:
- Simple Flat in Minute w (purple)- 3-swings Sequence Minute x (purple)
- Zig-Zag in Minute y (purple)- 3-swings Sequence Minute x (purple), interruption/bridge
Current Position & Pattern:
- Minute z (purple), bearish 3-swings or 5-swings sequence
Expected Swing:
- Intermediate (Y) (pink) continuation: Minor C (blue), Bullish 5-wave Impulse
Technicals & Confirmations:
- 50% or 61.8 Fibonacci Retracements of Minor A (blue)
- 161.8% or 200% Fibonacci Extensions of Minutes w & x (purple)
- Bullish Divergence at Support
- Bullish Harmonic Structure

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