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GBP/USD
Analysis:
On the pound chart, a downward wave has been developing since September 13. On a large TF, it can become the next section of the main trend or complicate the previous bullish correction. The first 2 parts are completed in the wave structure. In recent days, a reversal pattern is forming.
Forecast:
A flat mood is expected today. In the next sessions, an upward vector is likely. Before that, it is possible to put pressure on the support zone. The reversal and the beginning of the decline are expected at the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 1.2330/1.2360
Support:
- 1.2270/1.2240
Recommendations:
Pound purchases will be appropriate for the intraday trading style. Given the high probability of counter rollbacks, it is better to reduce the lot. In the area of the resistance zone, it is recommended to monitor the signals of your vehicles for the sale of the instrument.
USD/CHF
Analysis:
On the Swiss franc chart, a bullish wave develops within the bullish plane of a large scale. By early October, it completed a hidden correction. In the last week, the price has formed a reversal structure before a new upswing.
Forecast:
The rollback of the last days will continue today. The probability of completing the entire current correction will remain on the current day. By the end of the day, you can expect a change in rate and the beginning of a price increase.
Potential reversal zones
Resistance:
- 0.9960/0.9990
Support:
- 0.9900/0.9870
Recommendations:
Sale in the framework of the sessions can be successful. It is necessary to take into account the small expected potential for decline. When the price reaches the support zone, it is recommended to focus on the search for signals to buy the pair.
Explanations: In the simplified wave analysis (UVA), the waves consist of 3 parts (A-B-C). The last unfinished wave is analyzed. The solid background of the arrows shows the formed structure, dotted – the expected movement.
Attention: The wave algorithm does not take into account the length of time the tool moves!
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