GBP/USD - Elliott Wave Analysis
It is a Y-wave of double/triple combination. The pattern is going to complete the b-wave of zigzag. we have a retracement( maximum 61.8% of a-wave) this line is the important support so there is a big chance that price retrace to this line, after that we have a downtrend as a c-wave of the zigzag.
Trade ativo
As you may see, price almost reach to the resistance line, but I should mention that the pattern is a corrective wave and it seems a zigzag witch has been completed only a-wave and part of its b-wave. it is possible that price goes beyond the resistance line. for who is willing to go short, it's needed to put the stop loss upper than resistance line.Trade ativo
Price probably will fall to the 1.24290. it is a good level for TP.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.