GBP/USD Wave analysis and forecast for 04.04 – 11.04

GBP/USD Wave analysis and forecast for 04.04 – 11.04: The pair is likely to grow. Estimated pivot point is at the level of 1.6460.

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Our opinion: Buy the pair on the pullbacks at the level of 1.6560 with the target of 1.70.

Alternative scenario: Breakout of the level1.6545 will allow the price to continue decline to the level of 1.6460. This decline can put under threat estimated development of the bullish scenario.

Analysis: Presumably, the formation of the long-term uptrend, which is likely to take a shape of a zigzag ABC is still ongoing. Locally, the fifth final wave is being formed, within which a lead-in structure 1-2 has been formed in the junior wave level. If this assumption is true, in the nearest future, rise in the pair will continue in the third wave.

GBPUSD-H4

GBPUSD-D1

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GBP/USD Wave analysis and forecast for 28.03 – 04.04

GBP/USD Wave analysis and forecast for 28.03 – 04.04: Uptrend in the pair will resume. Estimated pivot point is at the level of 1.6460.

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Our opinion: Buy the pair from correction above the level of 1.6500 with the target of1.68 – 1.69.
Alternative scenario: Breakout of the level1.6460 will enable the pair to continue decline to 1.64 – 1.63.
Analysis: Presumably, the formation of the long-term uptrend, which is likely to take a shape of a zigzag ABC, continues. Locally, the wave C is emerging, within which the fifth final wave with the targets of 1.68 – 1.6925 is being formed.

GBPUSD-D1 GBPUSD-H4

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GBP/USD Wave analysis and forecast for 14.03 – 21.03

GBP/USD Wave analysis and forecast for 14.03 – 21.03: Decline in the pair is likely to continue. Estimated pivot point is at the level of 1.6785.

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Our opinion: Sell the pair from correction below the level of 1.6725 with the targets of 1.65 – 1.63.
Alternative scenario: Breakout of the level 1.6785 will enable the pair to continue growth to the levels of 1.69 – 1.70.
Analysis: Presumably, the formation of the large ascending impetus in the first wave has completed. . Locally, the first wave a of 2, of the downward large correction is being formed, within which the third wave of the junior level 3 of a of 2 is being developed. If this assumption is true, the pair will continue to decline to the level 1.64

GBPUSD-D1 GBPUSD-H4

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GBP/USD Wave analysis and forecast for 07.03 – 14.03

GBP/USD Wave analysis and forecast for 07.03 – 14.03: The pair is likely to decline. Estimated pivot point is at the level of 1.6821.

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Our opinion: Sell the pair from correction below the level of 1.6821 with the target of 1.65 – 1.63.
Alternative scenario: Breakout of the level 1.6821 will enable the pair to continue growth to the levels of 1.69 – 1.70.
Analysis: Presumably, the formation of the large ascending impetus in the first wave has completed. Locally, it is not excluded that the first in-lead wave of the large downward correction is being formed. If this assumption is true, the pair will continue to decline to the level of 1.65. This scenario will be confirmed after breakdown of the level of 1.6247.

GBPUSDD1 GBPUSDH4

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GBP/USD intraday: intraday support around 1.5050

GBPUSD201352417591Pivot: 1.505

Our preference: Long positions above 1.505 with targets @ 1.5155 & 1.522 in extension.

Alternative scenario: Below 1.505 look for further downside with 1.501 & 1.4955 as targets.

Comment: the pair has rebounded on its new support and remains on the upside. Continue reading

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