In this technical article, we’re going to take a look into the Elliott Wave charts of GBPUSD, exclusively presented in the members’ area of our website.
In this technical article, we’re going to take a look into theElliott Wave chartsof GBPUSD, exclusively presented in the members’ area of our website. As our members know GBPUSD has recently made pull back that made clear 3 waves down from the March 8th peak and completed correction right at the Equal Legs zone . In further text we’re going to explain the Elliott Wave pattern and trading setup. GBP/USD Elliott Wave one-hourchart 03.18.2024 The pair is correcting cycle from the 1.2597 low.
We expect to se either rally towards new highs or a corrective bounce in three waves at least. Once the bounce reaches the 50% Fibonacci retracement level against the connector high, we’ll secure our position by moving the stop-loss to breakeven. To safeguard our trade, we’ll closely monitor for any break below the marked invalidation level : 1.2597. GBP/USD Elliott Wave one-hourchart 03.21.2024 The pair found buyers within the Blue Box area as expected. We got a decent reaction from the 1.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD IG Client Sentiment: Our data shows traders are now net-long GBP/USD for the first time since Mar 01, 2024 when GBP/USD traded near 1.26.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.
Read more »
![Elliott Wave guide: Boost SP500 & Nasdaq 100 trading strategy [Video]](https://i.headtopics.com/images/2024/3/15/fxstreetnews/elliott-wave-guide-boost-sp500-nasdaq-100-trading-elliott-wave-guide-boost-sp500-nasdaq-100-trading-381D920990FA2393443A58ADAC5B0825.webp?w=640)
Elliott Wave guide: Boost SP500 & Nasdaq 100 trading strategy [Video]Elliott Wave Analysis: SP500,NASDAQ 100, DAX 40, FTSE 100, ASX200.
Read more »
GBP/USD Forecast: Short-term blip or correction ahead?The Pound Sterling (GBP) gave into the US Dollar (USD) resurgence, as GBP/USD registered a sharp correction from seven-month highs of 1.2894 reached a week ago.
Read more »
US Dollar Closes in on Resistance, GBP/USD Testing Support, Interest Rate Decisions NearThe latest PPI report gave the US dollar a push higher on Thursday ahead of next week’s FOMC meeting.
Read more »
British Pound Weekly Forecast: GBPUSD Could Struggle as Rate Setters ConveneThis week will bring policy decisions from central banks on both sides of GBP/USD
Read more »
British Pound Outlook & Market Sentiment – GBP/USD, GBP/JPY, EUR/GBPThis article scrutinizes retail sentiment on the British pound across three key FX pairs: GBP/USD, GBP/JPY and EUR/GBP, while also examining unconventional scenarios that challenge common crowd behaviors in the market.
Read more »