Anbat
Long

GBPUSD- Bullish 4 Next Week

FX:GBPUSD   British Pound/U.S. Dollar
661 4 22
Please look at 4 hour chart of GBPUSD-- Bulls have control of this pair for this last week and will remain next week.
Briexit - nothing will be done with this pair until next year, so all remain calm and stable with this pair. I believe that bottom of pair has been hit and pair will continue to go up for remainder of this year. I have highlighted this whole current month of August on chart. This chart give you a lot of information. Show you that pair has hit the 50% fib retracement on the last 4 hour red pin bar candlestick noted. RSI is in a upward trend at a current 52.0908 number, this will continue upward. First resistance area noted on chart is (blue line) 1.31476, once broken it will become a major support area on chart. Major high resistance area is around (blue line) 1.33547 area which in my opinion pair will go up to this level. Bullish Elliott impulse wave (12345) is in full force with 4-5 wave having just started.

NEWS EVENTS: Note on chart news events that will be effected this pair next week. I believe most will be bullish , causing this pair to continue upward this coming week. I would like all traders to consider adding NEWS on your charts here at tradingwiew. As myself, this is for information that a possible sudden change in PA might happen, but all news will sooner or later be reflected into price action on charts. Some people trade the news, I trade price action.

Wave-Expert PRO
3 months ago
Thanks for chart
Reply
dashuo
3 months ago
Thanks for chart
Reply
y00132
3 months ago
if im not wrong ..if second wave go smooth then 4 wave always take time to go in trend direction .. .. both waves go oposite to eachother.. .. i dont know much just read this theory somewhere .. please correct me if im wrong .
Reply
Anbat y00132
3 months ago
My opinion: 4-5 Elliot Wave upward, should break into its own smaller Elliot Impulse Wave (12345)... this coming week. You can play the bears or trade with the major trend or bulls, which is safer.
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