• 3 hours Brexit Woes Weigh On The British Pound
  • 4 hours Forget Turkey, This Is The Biggest Threat To European Finance
  • 5 hours There’s No Hiding From Google
  • 6 hours Turkish Lira Bounces Back After Qatar Bailout Pledge
  • 7 hours What Happens If Tesla Goes Private?
  • 9 hours China's Most Powerful Weapon In The Trade War
  • 11 hours Can The S&P 500 Shake Off Negative Sentiment?
  • 1 day Standards Go Out The Window As Employers Struggle To Fill Jobs
  • 1 day The Two Trillion Dollar Markets Amazon Hasn’t Conquered
  • 1 day Digital Supermodels Outperform Humans
  • 1 day France Could Lose Billions In EU Trade Route Redirection
  • 1 day Beer Giants Are Striking Out With Millennials
  • 1 day What Is Bakkt And Can It Take Bitcoin Mainstream?
  • 1 day Tesla’s Board Delivers A Stern Message To Elon Musk
  • 2 days Bitcoin Could Challenge Gold As Major Asset Class
  • 2 days Google In Talks With Tencent Over Cloud Business
  • 2 days Tech Giants Charge Deeper Into $8 Trillion Healthcare Industry
  • 2 days Lockheed Stock Soars On $480M Pentagon Contract
  • 2 days Ontario Moves To Slow Cannabis Drive
  • 2 days The Tech That Will Shape The Future Of Megaprojects
Time To Buy A Lada? Russian Auto Sales Are Booming

Time To Buy A Lada? Russian Auto Sales Are Booming

Russia’s flagship carmaker was once…

U.S.-Turkey Tensions Take A Dangerous Turn

U.S.-Turkey Tensions Take A Dangerous Turn

U.S.-Turkey tensions have reached a…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

GBPUSD Elliott Wave Analysis: Short Term Upside Target to 1.24 Area

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave (W) ended at 1.2198 and wave (X) ended at 1.2432. GBPUSD has since broken below wave (W) at 1.2198 which suggests that the next leg Wave (Y) has already started to the downside. Internal of wave (Y) is unfolding as a double three where wave W ended at 1.2037 and wave X bounce is in progress as a double three and can reach as high as 1.24 area before pair resumes the decline lower towards 1.172 - 1.185 area or at least pullback in 3 waves. If pivot at 1.2432 fails in the bounce, then pair has ended cycle from 12/6 high (1.277) and would correct a larger degree in 3, 7, or 11 swing and open extension higher.

GBPUSD 1 Hour

GBP/USD Short-Term Elliott Wave Analysis Chart
Larger Image

 


At Elliottwave-Forecast, we offer 24 hour coverage of 52 instruments from Monday - Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Trial to sample everything we have to offer.

 

Back to homepage

Leave a comment

Leave a comment