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GBP/USD
On the chart of the British pound, the price continues to form an upward wave, leading the countdown from the end of July. The wave corrects the main trend, forming in the side corridor. The structure lacks a final lift.
Forecast:
At the next session, the completion of the price reduction is expected, the formation of a reversal and the beginning of a rate increase. By the end of the day, the volatility of the instrument may increase.
Recommendations:
There are no conditions for selling the pound today. In the area of settlement support, it is recommended to track the reversal signals to find the points of purchase of the instrument.
Resistance zone:
- 1.2210/1.2240
Support zone:
- 1.2120/1.2090
AUD/USD
As part of the last section of the long-term bearish trend from August 7, a wave is developing towards the main course, claiming to be a correction. In the structure of the wave, in the last 2 weeks in a flat, the middle part of the structure (B) has been developing.
Forecast:
Today, the general flat mood of the pair's price movements is expected. At the next session, an upward vector of price fluctuations, up to the upper limit of the price corridor, is likely. Before the course change, pressure on the support zone is not excluded.
Recommendations:
Aussie sales are premature. In the area of settlement support, it is recommended to pay attention to the emerging signals of buying the instrument, with the potential to move to the resistance zone.
Resistance zone:
- 0.6820/0.6850
Support zone:
- 0.6760/0.6730
Explanations to the figures: Waves in the simplified wave analysis consist of 3 parts (A-B-C). The last unfinished wave is analyzed. Zones show areas with the highest probability of reversal. The arrows indicate the wave marking according to the method used by the author, the solid background is the formed structure, the dotted ones are the expected movements.
Attention: The wave algorithm does not take into account the length of time the instrument moves.
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