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Forex GBPUSD Elliott Wave News 1 + 4 hr Nov 9 2018

Forex GBPUSD Elliott Wave News 1 + 4 hr Nov 9 2018


Forex GBPUSD Elliott Wave News 1 + 4 hr Nov 9 2018

GBPUSD 1 Hour Chart
Wednesday, 7 November 2018 at 12:33:00AM AEST

GBPUSD can still be trading in a EW ending diagonal  that is part of sub-wave 5) of one. A ending diagonal is a special type of pattern, that can once completed push price into a sharp reversal, and almost always towards the starting point of the pattern. That said, firstly let's wait for a top to be form, ideally around the 1.3110 area, and then once we get a break below the 1.302 level, that is when a three-wave reversal can be in progress.


GBPUSD 4 Hour Chart
Thursday, 8 November 2018 at 5:31:00PM AEST

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 a move back to 1.3400 area this month. But like always, be aware of a pullback, ideally the next one will be lower into wave two down from around 1.3200/1.3200 area.






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