18.03.201917:19 Forex-elemzések és áttekintések: Simplified Wave Analysis. Overview of GBP / USD for the week of March 18

Large TF:

Since August last year, the price fluctuations of the British pound form the rising wave. In the last wave of the daily scale, it will become a correction. The last part (C) started in December. The wave structure looks complete.

Small TF:

The bearish wave, which began on February 27, has high potential and may become the first part of the reversal construction. A week ago, the price began to adjust upwards. The price is approaching the upper boundary of a large-scale resistance zone.

Forecast and recommendations:

The logic of wave analysis indicates a quick change in the pound exchange rate. The current wave structure is complete, the potential reversal zone has been reached, but there are no signals to immediately change direction on the graph. It is recommended to refrain from trading deals until clear signals of a pair are sold.

Resistance zones:

- 1.3300 / 1.3350

Support areas:

- 1.3000 / 1.2950

Explanations for the figures: The simplified wave analysis uses waves consisting of 3 parts (A – B – C). On each of the considered scales of the graph, the last, incomplete wave is analyzed. Zones show calculated areas with the highest probability of reversal. The arrows indicate the wave marking by the method used by the author. The solid background shows the formed structure, the dotted - the expected movement.

Note: The wave algorithm does not take into account the duration of tool movements over time. To conduct a trade transaction, you need confirmation signals from the trading systems you use!