GBP/USD Approaches Channel Top and 23.6% Fib Resistance

Liepa 09, 2018 10:44


4 hour

The GBP/USD bullish correction has reached the top of the downtrend channel, which is a bounce or break zone. The GBP/USD could be in a larger bullish correction within a wave 2 (pink) if price manages to break above the bearish channel but then the 23.6% Fibonacci retracement level could be a bounce spot as well. A bearish breakout below support does not have to lead to a larger bearish continuation if the wave WXY (purple) pattern indeed unfolds as shown in the image.

1 hour

The GBP/USD is probably building a corrective wave 5 (green) within the minor bullish channel on this 1 hour chart.

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

Įspėjimas apie riziką

CFD yra sudėtingi instrumentai, dėl kurių kyla didelė rizika greitai prarasti pinigus taikant finansinį svertą. 83% neprofesionaliųjų investuotojų sąskaitų prarandami pinigai prekiaujant CFD su šiuo tiekėju. Turėtumėte pagalvoti, ar suprantate, kaip veikia CFD ir ar galite sau leisti prisiimti didelę riziką prarasti savo pinigus.