"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 2 hours Meet The Hedge Fund Billionaires Club
  • 3 hours The Next Housing Crisis Could Be Right Around The Corner
  • 4 hours Cartel's, Pirates And Corruption Cost Mexico $1.6 Billion Per Year
  • 5 hours Africa’s Fastest Growing Economy
  • 6 hours The Blockchain Boom Hits The Utilities Sector
  • 8 hours Why Smart Money Is Selling Off Right Before The Bell
  • 10 hours Tech Giants Rally Ahead Of Earnings Reports
  • 1 day Global Debt Hits 225% Of GDP
  • 1 day The World’s First Trillionaire Will Be A Space Miner
  • 1 day How Student Debt Could Cause The Next Real Estate Crisis
  • 1 day This $550 Billion Industry Is Betting On Bitcoin
  • 1 day One Commodity Set To Soar On Russian Sanctions
  • 1 day China’s New Car-Market Rules
  • 1 day Oligarch Risk: The New Red Flag For Investors
  • 2 days Five Things To Consider Before Investing In An IPO
  • 2 days Investors Bullish As Earnings Season Kicks Off
  • 2 days Nearly One-Third Of U.S. Lottery Winners Declare Bankruptcy
  • 2 days Is Facebook Still A Buy?
  • 2 days Will Blockchain Stocks Ever Bounce Back?
  • 2 days Geopolitical Tensions Fail To Boost Gold Prices
Investors Bullish As Earnings Season Kicks Off

Investors Bullish As Earnings Season Kicks Off

The first round of earnings…

Tech Giants Rally Ahead Of Earnings Reports

Tech Giants Rally Ahead Of Earnings Reports

Earning season has just begun,…

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

More Info

Elliott Wave Analysis On GBPJPY And EURGBP

GBPJPY

On the intraday chart of GBPUSD, we are looking at a possible three wave structure, labeled as A-B-C, that started from recent highs at 164.098 region, and is now trading midway through it's completion in wave B. That said wave B could be near finished, as price is unfolding near 61.8 fibo. ratio measured from wave A highs. The ideal turning point into lower levels would then be around 161-162.40 area.

GBPJPY 1-Hour Chart


EURGBP

Recently broken corrective channel line on EURGBP suggests, that the correction from 0.76507 to 0.79101 area is completed, and now lower levels are in play. That said this sharp decline could already be wave 1, the first leg of a new five wave sequence in red wave C).

EURGBP 1-Hour Chart

 


If you like our trading analysis, you can visit our website at --> www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment