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10.08.201812:09 Forex Analysis & Reviews: Review of GBP / USD pair for the week of August 9 via simplified wave analysis

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The wave pattern of the H4 graph:

The descending wave of January 25 is not complete. Its wave level has already exceeded the scale of the chart under consideration of the pair.

Exchange Rates 10.08.2018 analysis

The wave pattern of the H1 graph:

In a higher wave model, the descending wave of April 17 forms the final part (C).

Exchange Rates 10.08.2018 analysis

The wave pattern of the M15 chart:

The direction of movement in the last few weeks is set by the downward wave of July 26. In the structure, there is a need for an upward rollback for correction.

Exchange Rates 10.08.2018 analysis

Recommended trading strategy:

Purchases are risky and only possible at the lowest timeframe. For sales on higher timeframes, it is recommended to sell the pair. You must wait until the rollback is completed.

Resistance zones:

- 1.3030 / 1.3080

Support zones:

- 1.2880 / 1.2830

Explanations to the figures:

A simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (ABC). The last incomplete wave for every timeframe is analyzed. Zones show the calculated areas with the greatest probability of a turn.

Arrows indicate the counting of wave according to the technique used by the author. The solid background shows the generated structure and the dotted exhibits the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need to confirm the signals used by your trading systems.

Isabel Clark
Analytical expert of InstaForex
© 2007-2024

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