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GBPUSD 4H Wave Analysis

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
Phils_Ocean  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis priceaction priceactionanalysis
11
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trendanalysis chartpattern waveanalysis priceaction priceactionanalysis
  • GBPUSD is currently not in an impulsive phase.
  • Compared to AUDUSD or EURUSD, GBP still needs one more move to the downside
  • I think Wave X just finished and we'll see the finishing wave z
  • This wave could end around 38% Fib retracement or extend to 50% Retracement
  • Even an overextension to 61% is possible, but highly unlikely
  • As always be patient, watch the market
  • Watch how it react around key areas and look for signifikante price Action signals!
  • Only after clear Entry Signal, place a trade under proper risk management rules



  • We should then see the next impulsive phase, which is wave 5 to new daily high.
This is for educational purpose only. This is no investment advice. Trade with demo account first before risking your own money.

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