EURGBP Set to Rise Next Week
Based on the analysis of several indicators, it appears that 
EURGBP is likely to experience an upward trend starting from next week.
In the weekly chart, the signal decomposition indicates that all frequencies are pointing towards an upward movement, suggesting that the Euro (EUR) will dominate the British Pound (GBP) in the coming days.
Furthermore, in the H4 timeframe, a perfect divergence can be observed according to the divergence strategy. This divergence adds weight to the potential upward movement of EURGBP.
Applying the Elliott Wave method, it is believed that the current downside wave, identified as wave C, is reaching its conclusion. Wave C is composed of five smaller waves (1, 2, 3, 4, and 5), with these individual waves nearing their end. The subsequent wave, either wave A or wave B, which signifies a change in trend, has already formed. This suggests that the upcoming wave, whether it is wave C or a new set of five waves (1, 2, 3, 4, and 5), will likely be an upward wave. In the longer time frame, this upward wave is expected to rise by approximately 200 pips.
Please note that this analysis is based on the provided information and the Elliott Wave interpretation may vary depending on the specific wave count and structure.
EURGBP is likely to experience an upward trend starting from next week.- Signal Decomposition
In the weekly chart, the signal decomposition indicates that all frequencies are pointing towards an upward movement, suggesting that the Euro (EUR) will dominate the British Pound (GBP) in the coming days.
- Divergence
Furthermore, in the H4 timeframe, a perfect divergence can be observed according to the divergence strategy. This divergence adds weight to the potential upward movement of EURGBP.
- Elliott Wave
Applying the Elliott Wave method, it is believed that the current downside wave, identified as wave C, is reaching its conclusion. Wave C is composed of five smaller waves (1, 2, 3, 4, and 5), with these individual waves nearing their end. The subsequent wave, either wave A or wave B, which signifies a change in trend, has already formed. This suggests that the upcoming wave, whether it is wave C or a new set of five waves (1, 2, 3, 4, and 5), will likely be an upward wave. In the longer time frame, this upward wave is expected to rise by approximately 200 pips.
Please note that this analysis is based on the provided information and the Elliott Wave interpretation may vary depending on the specific wave count and structure.
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