GBP/USD: Wave analysis and forecast for 19/10/2018 – 26/10/2018
The pair GBP/USD is still likely to grow. Estimated pivot point is at a level of 1.2658.
Main scenario: long positions will be relevant above the level of 1.2658 with a target of 1.3510 – 1.3708 once the correction has finished.
Alternative scenario: breakout and consolidation below the level of 1.2658 will allow the pair to continue declining to the levels of 1.2334 – 1.2097.
Analysis: Supposedly, the first wave of senior level (1) has been formed as an impetus on the daily time frame and a downward correction finished forming as the second wave (2). Supposedly, the first counter-trend wave of junior level i of 1 of (3) has been formed and a descending correction is developing in the form of wave ii of 1 on the H4 time frame. Apparently, the wave (с) of ii is forming on the H1 time frame. If this assumption is correct, the pair will continue to rise to 1.3510 – 1.3708 once the wave finished forming. The level 1.2658 is critical in this scenario.
Do You Want To Make Thousands Of Dollars Extra Cash Every Month
From Forex Trading In Pakistan?
Subscribe To Our Mailing List And Get Free Forex Training Videos, Free Forex Trading Strategies, Free Forex Indicators, Robots And Free Forex Analysis From ForexGuru.Pk Team In Your Email
We Respect Your Privacy And Protect It Seriously