GBPUSD

[Samirofi]

The GBPUSD wave count is showing a bearish impulse because price failed to break above resistance this week (purple/blue lines).


4 hour GBPUSD:



This week’s bullish price action could be explained by the fact that a wave 4 (purple) has been completed.


60 min GBPUSD:

[Samirofi]

10/10/2014

[Samirofi]

November 24

4 hour GBPUSD:
The GBPUSD is most likely consolidating for a wave 4 (blue).

[Samirofi]

November 25 - 4 hour GBPUSD



The GBPUSD is most likely consolidating for a wave 4 (blue).

[Samirofi]

update: 4 Dec 2014

[Samirofi]

GBPUSD is also in an impulsive downtrend, with room for more declines in the short-term as wave 5 is still not in five subwave, so current the intraday leg to 1.5580 could be fourth wave, as part of a downtrend.

[Samirofi]

Update: 11 Dec 2014

[Samirofi]

update: 19 Dec 2014

The GBPUSD’s bounced off of support (green) yesterday which could be explained by corrective price action within wave Y (green) of wave 4 (blue).


Price is most likely making complex corrections as long as price stays between support and resistance.

[Samirofi]

Update: 06 Jan 2015

The GBPUSD completed the wave 4 (blue) consolidation and is now falling towards the wave 5 (blue) targets.


GU could be starting a smaller triangle of consolidation – see recent purple trend lines.

[Samirofi]

Update: 13 Jan 2015

The completion of a wave 4 (green) consolidation will most likely take price at the 23.6% or the 38.2% Fibonacci retracement level.


The GBPUSD is making a consolidation and is correcting within the trend lines (purple).