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** GBPUSD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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As the price still in uptrend and have not yet breaking the support so eye will keep on going for LONG and then wait for the profits at the resistence level . So price is likely to keep moving up. So it expect to to buy when ever the price make a support at lower timeframe like 15mins
GBPUSD is a popular Forex pair that covers 9.6% trading volume pair. GBPUSD has been moving in the falling wedge and soon seems to give a breakout. RSI is moving in the range of 30-50, showing the consolidation region. By looking at the chart structure, it gives a breakout soon.
Reason :
Trading at strong support Zone.
Has been in falling wedge...
Price has made significant Low at 20th august,2021.
Extreme low has given us beautiful Impulsive structures.
Wave ((1))
Wave Nature: Motive wave
Type of motive wave: Impulse (Five waves)
Wave ((2))
Wave Nature: Corrective waves
Type of corrective pattern: Irregular or Expanded flat.
Retracement of wave ((2)) : 50% of wave ((1)).
Wave ((3))
Wave...
Looking first at the weekly chart, GU is most likely setting up to form a Head & shoulders pattern (also on the daily). Scaling down to the H4, price has been in an impulse phase (thus forming the weekly''s right shoulder). Price is currently in a correction phase (bullish flag). Therefore, I am expecting another impulse to the upside, which will be followed by a...
