anilmangal
Long

GBPUSD POSSIBLE WAVE COUNT?

FX:GBPUSD   British Pound/U.S. Dollar
2404 14 112
The first 3 wave up abc could be all the correction we get but i am leaning towards more correction (time wise) so another abc or 12345 up is possible.
Buying the break out on the 60 and wait to see if the up move is corrective or impulsive is a good idea.

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Yes, I think we are still in a corrective structure a while yet however my target (if the chart pattern continues) is similar. My lines are drawn a little differently.
snapshot
+1 Reply
Hi Anil,

I think we can expect a bit deeper Wave C.

Here is my wave count. I would like to know your opinion on this wave count.
snapshot
+3 Reply
anilmangal PRO VijaySanghishetty
possible
+3 Reply
Hoag PRO VijaySanghishetty
very much possible.
+1 Reply
Thanks Anil
Reply
same view here
thanks
Reply
Hello, this pair is positive correlated to the EURUSD, so i think price reached its top correction and will continue falling, possible breaking long term lows. Only next year will rally strongly. The GBP rate hike is still far and right now GBP is extremely overbought. The USD rate hike is nearer, possible in december. Regards.
Reply
anilmangal PRO FullTimeTrader
Thanks for sharing Fulltimetrader but the the GBPUSD and the EURUSD is not correlated in any way.
+2 Reply
FullTimeTrader anilmangal
I'm not talking about exact correlation but long term direction, since i expect EURUSD to reach parity GBPUSD should follow that direction, this chart shows what i expect
snapshot
+3 Reply
anilmangal PRO FullTimeTrader
Thanks for sharing but i don't trade my or anyone's expectation, I trade the structure.
+2 Reply
Thank you Anil, may target 1,55 min
+1 Reply
Setup still in play?
+1 Reply
Yes i am still expecting a move up , even if it goes some more down . I will post update later
+3 Reply
hi anil.. gu eyeing 5065/80 area below this opens much lower tgt 1.48.. but if area holds then consider long.. 1.6.. above this 1.6230,, i another lower tgt exterm 1.45/46 area.. saying all this .. will be eyeing daigonal pattern in 1h
+1 Reply
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