GBPUSD Wave Analysis
GBP made some really interesting moves the last two weeks. Anybody who is familiar with the Elliott wave Theory was expecting the final push to the upside.
We now have finished the 5-Wave structure to the upside, which took place since September. The Brexit is pretty clear right now and UK will face some macroeconomic difficulties.
From the technical perspective we will have some very interesting setups for the next Weeks/Months.
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We now have finished the 5-Wave structure to the upside, which took place since September. The Brexit is pretty clear right now and UK will face some macroeconomic difficulties.
From the technical perspective we will have some very interesting setups for the next Weeks/Months.
- Market finished 5-Wave push to the upside
- This week we got the immediate retrace and selloff which was also 5-Waved and the beginning of something big.
- Across all GBP Pairs we get some nice daily/weekly sell signals
- I am waiting for the retrace to occur to get another sell setup
- IF the months closes below 1.2900 we get a picture perfect Pinbar candlestick. This would indicate a much bigger selloff toward new lows on the weekly and monthly chart.
- Let's watch the 4H/1H Chart to get a good entry around the regular fibonacci lvls.
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