GBPUSD

[Samirofi]

hi ,

End Of Wave C:2orB

Typical Cluster: 1.4997 Monthly Pivote Point- 1.4983 100% app - 1.4969 61.8% Retracement

Max Cluster: 1.4900 78.6% Retracement , 1.4893 161.8% app

Target Price: 1.5284 - 1.5457

[Samirofi]

Update: 2 Sep 2013

[Samirofi]

Update : 15 Oct 2013

[Samirofi]

Update : 09 Jan 2014

[Samirofi]

GBPUSD is now trying to recover, following the footsteps of the EURUSD swings. On the chart below we are looking at an incomplete corrective move that can be flat if we consider a three wave drop from the 1.7098 high. With that said, i would not be surprised to see a rally back to 1.7100 before going down.


GBPUSD 1h Elliott Wave Analysis

[Samirofi]

Ending Diagonal Puts GBPUSD Into A Bearish Mode

Cable has turned bearish in the shape of an ending diagonal from 1.6243 to 1.7180 that caused a sharp drop in price during the summer.

In fact, the current decline also broke beneath the red trend-line connected from the 1.6460 level that suggests a top is in place, especially if we also consider an impulsive manner from the high.

With that said, GBPUSD will likely remain under pressure in the weeks ahead, while any pullbacks should be corrective and limited on the upside.


GBPUSD Daily Elliott Wave Analysis



As expected, GBPUSD broke to a new low as the rally from the last two weeks to 1.6640 was nothing else than just a correction within the ongoing downtrend. We see prices now falling in a fifth wave, which is a final leg within a larger degree of an impulsive wave structure. We are talking about wave (1) that may find a low by the end of the week. Sooner or later, a new correction will follow, ideally one that will be in three leg up in wave (2).

GBPUSD 4h Elliott Wave Analysis

[Samirofi]

The USD remains in a strong bullish trend despite the NFP miss on Friday. The loser of the day at this time is the pound that is falling on the latest polls favoring a Yes vote in the Scottish referendum. We have seen a big gap down in the middle of a black wave 3 that can be counted in five waves, so a rally may follow soon back up to fill the gap.

[Samirofi]

Price could have completed a wave 4 (magenta) correction up to 1.65, which means another bearish momentum could be starting soon.


4 hour GBPUSD:



A breakout (red arrows) below the support trend line (green) could potentially indicate the start of the bearish momentum.


60 min GBPUSD:

[Samirofi]

The Cable could be starting a new bearish impulsive wave 5 (magenta), which is consisting of a wave 123 (purple numbers) but price is trending down choppily so far. This could be explained by multiple waves 1 and 2 (current wave count) or a corrective wave structure.


4 hour GBPUSD:



A rough invalidation level (dotted blue line) is the starting point of wave 1 (orange).


60 min GBPUSD:

[Samirofi]

The GBPUSD is trending down but slower than an impulsive wave typically does. The wave count is therefore still set on a corrective outlook but it could change if price manages to keep making lower lows.


4 hour GBPUSD:



During the release of the NFP figures price could have completed a 5 wave (orange) of wave c (purple).


60 min GBPUSD: