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GBP/USD: general analysis 27 January 2020, 12:48

GBP/USD: general analysis 27 January 2020, 12:48 Scenario Timeframe Intraday Recommendation BUY STOP Entry Point 1.312...

Jan 14, 2020

GBP/USD: wave analysis 14 January 2020, 08:45


Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 1.2992
Take Profit 1.2850, 1.2735
Stop Loss 1.3055
Key Levels 1.2735, 1.2850, 1.3205, 1.3514, 1.3727
Alternative scenario
Recommendation BUY STOP
Entry Point 1.3210
Take Profit 1.3514, 1.3727
Stop Loss 1.3105
Key Levels 1.2735, 1.2850, 1.3205, 1.3514, 1.3727
The probability of the pair reducing remains.
On the 4-hour chart, the development of the first wave of the higher level 1 of (3) has completed and a downward correction 2 of (3) is being formed. At the moment, there is a development of the wave c of 2, as part of which the third wave of the lower level (iii) of c is being formed. If the assumption is right, the decline of the pair will continue to the levels of 1.2850–1.2735. The level of 1.3205 is critical and stop loss for this scenario.


Main scenario
Short positions are relevant from the corrections below level of 1.3205 with the targets at 1.2850–1.2735. Implementation time: 7 days and more.
Alternative scenario
Breakout and consolidation of the price above the level of 1.3205 will help the pair continue growth to the levels of 1.3514–1.3727.

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