For Traders

Analytical Reviews

Wave analysis

16.04.201823:54 Forex Analysis & Reviews: Wave analysis of the GBP / USD currency pair for April 16, 2018

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.

Analysis of wave counting:

As expected, the GBP / USD pair's trading started from the upward movement and stopped several points from the level of the 43rd figure at the beginning of the European session. Thus, we can assume that the currency pair remained in the final stage of the formation of the wave e, b, b, B, C, C, (A). If this is the case, then before the beginning of the future wave c, b, B, C, C, (A), the currency pair can retry testing the level of 1.4300.

The objectives for building a downward wave:

1.3946 - 38.2% of Fibonacci

1.3823 - 50.0% of Fibonacci

The objectives for building an upward wave:

1.4300

General conclusions and trading recommendations:

The wave counting continues to get complicated and tangled. Now, we expect a resumption of the decline in quotations with targets near the calculated levels of 1.3946 and 1.3823, which corresponds to 38.2% and 50.0% of Fibonacci, within the limits of wave c, b, B, C, C, (A). The supposed wave b is close to its end, but it can get a bit more complicated with the goals, which are about 43 figures.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.