7pasos

If 1.5157 stands, GBP will see more upside correction.

FX:GBPUSD   British Pound / U.S. Dollar
377 0 0
The first idea that I want to stress out is that this upside movement is a correction and no a new trend (at least as far as now we do not have evidence to support the idea of a new trend).
If you observe the last up side piece of movement, is imposible to count it as a five, there for I have the theory that the second high of the last upside leg is the b wave of an expanded flat, and the next down movement is an extended 1 for a C down to end a x)) wave.
As the most long common proyection for this c under this circumstances are at 1.51579 I think the chances to bounce up again from that zone are pretty good.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out