GBPUSD short-term Elliott Wave analysis suggests that the rally from 8/15/2018 low at 1.2660 to 1.3042 high ended red wave 1. The internals of that rally higher took place in 3 wave corrective sequence i.e double three thus suggesting that the pair can be doing a Leading diagonal structure. Up from 1.2660 low, the initial rally to 1.2935 high ended black wave...
As the informal “deadline” for a Brexit deal draws nearer, sterling is becoming more attuned to headlines about the likelihood and structure of a deal. The UK’s relationship with its peers in the European Union is rapidly becoming the factor to watch when trading the pound.
FUNDAMENTALS
Therefore, it’s not surprising that GBP/USD has spiked following Monday’s...
Currecny rate made a fake broke of key level.
Potential profit in 4 times bigger the risk.
Sell at: 1.3032
S/L: 1.3056
T/P: 1.2927
CCL-Candle created level
CAP-Candle Approved level
FB-Fake broke
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FX:GBPUSD wait for NFP then think of GBP trading
Buyer failed to push the price higher than the first top
which shows the bullish momentum is exhausted.
what we can do is to trade this potential 2nd top.
With SL above 1.30700 and aim for a drop to 1.28760
and 1.26950
GBPUSD has been dropping for the past 5 months (April 2018) and i think its an opportunity to ride the wave a bit more... Even though i caught a few pips when the market was bullish briefly, i wouldnt recommend going against the overall daily trend so im all in for a Sell the next few days
The price has down trend. Most of the times it is continued. That's why I will look for short after pull back to 1.2770. Goal 1.2612.
Near key level 1.2589 we can look for long ONLY.
Hello Traders,
In this short-term analysis, we will have a look GBPUSD.
Short-term Elliott wave view suggests that the rally to 1.3217 high ended red wave 2 bounce. Down from there, red wave 3 was taking place as impulse structure with lesser degree cycles are showing sub-division of 5 waves structure lower in it’s each leg lower i.e black wave ((i)), (( iii...
