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GBPUSD Elliott Wave

GBPUSD Elliott Wave

tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

07 January 2019 Elliot Wave Cable is turning to the upside very aggressively, now testing the upper trendline at wave 4 swing high which means that pair might have reached a bottom. As such, more upside can be coming in aggressive fashion, especially after wave 2)/B) pullback.

11/01/2019

    tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

    12 November 2018 Elliot Wave Cable completed a five wave rise from 1.2696 low that put a new reversal in play. It can be just another deep A-B-C set.back towards 1.2750, or maybe even a new bearish impulse if we consider idea of a completed wave II at 1.3172. However, in both cases there is room for more weakness after short-term recovery into wave B/2. IN such case watch out for a resistance near 1.3000.

    13/12/2018

      tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

      06 November 2018 Elliot Cable keeps moving higher, now very sharply and impulsively, so low must be in place for wave B which means more upside ahead. We are tracking big wave C up of a flat correction, so there is room for move back to 1.3300 area this month. But like always, be aware of a pullback, ideally the next one will be lower into wave two down from around 1.3100 area.

      29/11/2018

        tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

        30 October 2018 Elliot Wave Cable is currently turning down into a third leg of decline which can either be wave C) or 3), but in both cases there is room for more weakness it seems as a five-wave structure is unfolding down from 1.3250 swing high. However, be aware of a pullbacks in the near future, ideally from around 1.2700/1.2750 area as wave 3 can come to an end.

        16/11/2018

          tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

          25 October 2018 Elliot Wave No change.Cable is currently turning down, ideally unfolding sub-wave C) of a higher degree wave B correction which can look for support and a bounce near the Fibonacci ratio of 78.6. in that zone you can also see 1.2780 swing from September where bears may slow down and maybe cause a strong bounce higher into wave C of wave II flat formation.

          9/11/2018

            tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

            18 October 2018 Elliot Wave No change. Cable can still be trading within a bigger wave II correction, with a second zig-zag in play up from 1.2900 region. That said we see current reversal from the 1.325 level as wave B of a second zig-zag that can look for support near the Fibonacci ratio of 50.0 or 61.8. From there final push up into wave II may follow.

            31/10/2018

              tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

              12 October 2018 Elliot Wave No change. Cable made a nice turn up recently, up from the 1.292 level which is a suggestion that pair is still trading within a complex wave II correction. We see a double zig-zag in play with second A-B-C structure unfolding. So for now, pair remains in bullish mode, with potential resistance for wave II seen at 1.3400.

              25/10/2018

                tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

                05 October 2018 Elliot Wave Cable came nicely to the downside, and tested the channel support which must be broken for a continuation to much lower levels within wave 3. If not, then drop from 1.3300 will be treated as wave X of a complex corrective recovery, especially if we see a rise back above 1.3110.

                18/10/2018

                  tradinglounge.comGBPUSD Elliot Wave Chart 1 hr

                  01 October 2018 Elliot Wave Cable may also see more weakness after higher pullback. Resistance is at 1.3080. We think pair may see drop to 1.2970, or even 1.2900 this week, while pair trades below 1.3160.

                  11/10/2018

                    tradinglounge.comGBPUSD Elliot Wave Chart 1 hr

                    25 September 2018 Elliot Wave GBPUSD may also see stronger buck if decline from the high will unfold in five waves. For now, that’s not the case yet, but it may be soon, if we see fall from here to 1.3000. In such case I would be interested in shorts after pullback.

                    2/10/2018

                      tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

                      17 September 2018 Elliot Wave Cable moved to a new high last week, but still very slowly so we suspect that resistance is not far away. But the personality of a price action suggests that this can be an ending diagonal here in wave C with more upside to come after subwave 4) pullback. In such case we should watch out for resistance near 1.3200 where upside can be limited. A drop towards 1.29 would likely suggests a turning point.

                      25/09/2018

                        tradinglounge.comGBPUSD Elliot Wave Chart 1 hr

                        10 September 2018 Elliot Wave GBPUSD is turning down after A-B-C rise into 1.3030 area where pair can be looking for a completed wave B) so corrective set-back from Aug 30 is not finished yet. Ideally there will be a new five wave decline into 1.2750 area from where bounce may occur later this week.

                        18/09/2018

                          tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

                          03 September 2018 now Elliot Wave GBPUSD is turning lower so it appears that first leg we have seen from Aug 15 low is already completed; it can be wave A as part of big ongoing corrective rise. If that is the case then current pullback is wave B which can be headed south now to around 1.2800 area for a support around 61.8% Fib.

                          12/09/2018

                            tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

                            27 August 2018 Elliot Wave Cable is slowly and steadily turning to the downside, indicating that a corrective wave 4) can be trying to put a top in at 1.2936 level. If that is the case then a new impulsive drop may now follow into sub-wave 5) of three. This view remains bearish as long as upper channel resistance line holds.

                            5/09/2018

                              tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

                              20 August 2018 Elliot Wave Cable is falling like a rock, making a very extended leg down from 1.3172 that is seen as an impulse which has reached even lower prices than we firstly thought, so we adjusted the wave count and are now looking at wave three that can be underway to 1.2550 area this week. Resistance for current rise is at 1.2826.

                              30/08/2018

                                tradinglounge.comGBPUSD Elliot Wave Chart 1 hr

                                09 August 2018 Elliot Wave Cable is slowly turning to the upside, ideally unfolding a new temporary correction as wave 4, that can retrace back to the area of a former wave iv around the 1.2973 zone. There we can see Fibonacci ratio of 23.8-38.2 and the lower channel line, where all can react as resistance and push price into a new low for wave 5.

                                23/08/2018

                                  tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

                                  2 August 2018 Elliot Wave GBPUSD can be trading in a correction of wave 2 as part of a bigger upcoming recovery within wave C). We see possible support for wave 2 around the 1.3070 level and around the Fibonacci ratio of 61.8. A rally above the 1.3212 level would confirm more gains.

                                  14/08/2018

                                    tradinglounge.comGBPUSD Elliot Wave Chart 30 Mn

                                    27 July 2018 Elliot Wave All three of the pairs, EURUSD, AUDUSD and GBPUSD look great and are easy to count. On GBPUSD we also see a five-wave drop in play down from 1.3213 area which is a trait of a bearish impulse, and which suggest where the intra-day trend can be going. We see it going bearish, but only after sub-wave v) of a fully shows up and after the three-wave pullback that can follow into blue wave b unfolds. Once this two stages happen, we may expect a new break below the 1.3060 area in upcoming sessions.

                                    8/08/2018

                                      tradinglounge.comGBPUSD Elliot Wave Chart 4 hr

                                      24 July 2018 Elliot Wave No change. GBPUSD is currently recovering, suggestion that a bigger flat correction can be in play for the pair. We see waves A) and B) completed, so current turn higher from 1.2956 can be wave C that must unfold five visible waves, before we can regard this flat correction completed. Current structure points higher, towards the 1.3294 level in a bullish manner, however let's be aware of temporary pullbacks that may show up as well, the first one being wave 2.

                                      2/08/2018

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