• 676 days Will The ECB Continue To Hike Rates?
  • 676 days Forbes: Aramco Remains Largest Company In The Middle East
  • 678 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,078 days Could Crypto Overtake Traditional Investment?
  • 1,083 days Americans Still Quitting Jobs At Record Pace
  • 1,085 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,088 days Is The Dollar Too Strong?
  • 1,088 days Big Tech Disappoints Investors on Earnings Calls
  • 1,089 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,091 days China Is Quietly Trying To Distance Itself From Russia
  • 1,091 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,095 days Crypto Investors Won Big In 2021
  • 1,095 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,096 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,098 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,099 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,102 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,103 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,103 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,105 days Are NFTs About To Take Over Gaming?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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

Elliott Wave Analysis: GBPUSD doing an ending diagonal

GBPUSD Short Term Elliott Wave view suggests that the pair rallies as 5 waves impulse Elliott Wave structure from 16 December 2017 low. Up from 16 December 2017 low (1.33), Minor wave 1 ended at 1.3613, pullback to 1.3456 ended Minor wave 2, rally to 1.3943 ended Minor wave 3, and Minor wave 4 ended at 1.3803. Pair has broken above Minor wave 3 at 1.3943, suggesting that Minor wave 5 is currently in progress.

Internal of Minor wave 5 is proposed to be unfolding as an Ending Diagonal where Minute wave ((i)) ended at 1.3945 and Minute wave ((ii)) ended at 1.3838. As far as pivot at 18 January 2018 low (1.3803) stays intact, expect the pair to extend higher to end Minor wave 5 of (3) towards 1.40s area. Afterwards, pair should pullback in Intermediate wave (4) to correct cycle from 16 December 2017 low (1.33) in 3, 7, or 11 swing before the rally resumes. We do not like selling the pair.

GBPUSD 1 Hour Elliott Wave Chart

 

Back to homepage

Leave a comment

Leave a comment