GBPUSD – Premium Setup
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GBPUSD & JPYINR – Swing Setup
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EWP: Will GBPUSD touch 1.400 before the next weekend?
Price has made significant Low at 20th August 2021. Extreme low has given us beautiful Impulsive structures. Wave ((1)) Wave Nature: Motive wave Type of motive wave: Impulse (Five waves) Wave ((2)) Wave Nature: Corrective waves Type of corrective pattern: Irregular or Expanded flat. Retracement of wave ((2)): 50% of wave ((1)). Wave ((3)) Wave Nature: Impulse (3rd wave can only be an Impulse with 5 waves) Extension of wave ((3)) : At this motion, price is riding on sub-wave (3) of wave ((3)). Wave has an extension of ((3)) 161.8%, but the party is not over yet. We are to get waves (4) and (5) of wave ((3)). One can expect 2.618% of wave ((3)) and even more! Sub-waves of wave ((3)) : Wave (1) is an impulse. Wave (2) is an irregular flat. Wave (3) is an impulse. Extension: 161.8% of wave 1 The price extension of wave (3) is 161.8%. If the price breaks the 1.39154 level without any correction, we will have a powerful extension. Wave (4): According to rules of alternation, if the second wave seems flat & time-consuming, then wave four can be sharp and quick. We may get a running triangle or a zigzag correction. Common Retracement: 38.2% of 3rd wave at 1.38305 50% of 3rd wave at 1.38101 61.8% of 3rd wave at 1.37924 50% retracement for wave 4 is acceptable for two reasons: 1. An Important support level is the 1.38107 – 50% retracement level of Wave 3. 2. Wave 4 is more often complete nearby the sub-wave (4) of wave ((3)). If the price breaks the hurdle line, Continue reading
British Pound (GBPUSD) Struggling At This Support
Keep your eyes peeled at the support trendline. It could fly from here for 1.25300 level. But this can happen only after two consecutive positive close.
As per the S RSI, it’s under downtrend. Hence, complete breakout means a direct target of 1.21000.
Note: beware of fake out.
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GBPUSD: Next Strong Probability
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