GBP/USD, 12H chart. The bullish outlook remains on the table because the price hasn’t broken the low of wave 1 yet. So, it’s still possible to have the beginning of wave 3 in the coming hours. However, if the price goes below 1.1957, there’ll be …
GBPUSD – March 18th, 2020 Continue to charts & full analysis »
GBP/USD, 12H chart. It seems like there’s a downward zigzag, which supposed to be wave (B). Previously, we had an upward impulse in wave (A). Also, there’s an advance, which could be the first wave of wave (C).
GBPUSD continued its sideways consolidation and the size of that consolidation (time-wise) suggests that triangle wave B blue has yet to run its course. We know that triangles precede the final leg in the main direction of the trend. With that in mind, it is …
GBPUSD 30th January, 2020 Continue to charts & full analysis »
Cable continues to trade in a sideways manner and the larger trend remains down. Any rally should prove corrective, preparing the way for further decline.
Cable popped to a higher high before reversing gears in line with the ongoing corrective structure we have been tracking.
In the previous analysis, we set targets starting from 1.3139. Cable tagged that first target and we will discuss below whether the bounce has run its course.
Cable traded on up as anticipated and both targets were reached. The focus remains on up till Cable shows any sign of weakness as we will discuss shortly.
The post above the hourly count’s invalidation point lends credence to the idea that a counter-trend advance has started. As always we will wait for the hourly count confirmation point to be reached to gain confidence in this outlook.
GBPUSD continued to decline and the confirmation point was never reached to suggest that the five-wave decline we have been tracking is complete. The first target for wave (2) black (on the daily chart) was reached and we will continue to favor the downside until …
GBPUSD 23rd December, 2019 Continue to charts & full analysis »
Cable’s decline is in line with the near-term bearish outlook. So far, Cable fell short of the cited target, but if we are on the right track, Cable should have lower lows in store. A corrective bounce should be in the cards for GBPUSD before …
GBPUSD 19th December, 2019 Continue to charts & full analysis »
