Category Archives: GBPUSD – Weekly

GBPUSD

As shown on this weekly chart, Cable is falling in impulsive third wave of the Primary-degree wave ((C)).

The outlook in the weeks ahead remains bearish on farther decline of Intermediate wave (3), which will likely find its support around 1.3304.

GBPUSD - Weekly

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GBPUSD

In this frame of Cable’s weekly chart, the labels of Primary degree interpret the overall correcting process which started at the 2.1161 high (Nov 2007), as an A-B-C zigzag, that its final decline in Primary wave C (circle) remains in progress.

For now the bearish outlook is through 1.3304, in anticipation of the decline in Intermediate wave (3), which may have begun at 1.5930.

GBPUSD - Weekly

GBPUSD

As shown on this Cable’s weekly frame, the labels of Primary degree interpret the overall correcting process from the 2.1161 high (Nov 2007), as a double zigzag (W-X-Y formation).

Based on this alternate count, Intermediate wave (B) of Primary wave Y(circle) may have completed at 1.5930, and Intermediate wave (C) begun its way down, prior to the end of overall correction.

Cable in the wave (C) has potential to decline through 1.3304, where equals with the wave (A).

GBPUSD - Weekly

GBPUSD

Potential Bearish reversal on the Cable :

In this frame of Cable’s weekly chart, the labels of Primary degree interpret the overall correcting process from the 2.1161 high (Nov 2007), as a W-X-Y formation.

Based on this alternate count, Intermediate wave (B) of Primary wave Y(circle) may have completed at 1.5930, and following Intermediate wave (C) lies ahead ( prior to the end of overall correction).

The wave (C) has potential to achieve the 1.3304 target, where equals with the wave (A).

GBPUSD - Weekly

GBPUSD

Bearish view in the weekly frame:

The Cable’s potential is the same as the Euro. Developing the Primary degree sequences:  impulsive wave A (circle), an (A) – Triangle (B) – (C) formation as corrective wave B (circle) and impulsive wave C (circle) in progress.

The decline from the 1.7157 high on July 2014 has the potential to be extended through the lower levels, to complete the Primary wave C (circle).

Under this bearish alternate count, the five waves down could be labeled as Intermediate extended wave (1), and the recent rebound as corrective wave (2) of the same degree. In this case, the Intermediate waves of (3), (4) and (5) to the downside lie ahead prior to the end of Primary wave C (circle).

The anticipated target for the overall decline is 1.2468, where wave C (circle) equals 0.618 times the length of wave A (circle).

GBPUSD - Weekly

British Pound

Bearish view in weekly chart:

The Cable’s potential is the same as the Euro. Developing an impulsive wave A (circle), an (A) – Triangle (B) – (C) as corrective wave B (circle) and impulsive wave C (circle) in progress.

The decline from the 1.7157 high on July 2014 has the potential to be extended through the lower levels, to complete the Primary wave C (circle).

Under this bearish view, the five waves down could be labeled as extended wave (1), and the recent rebound as corrective wave (2) which has likely remained in progress. In this case, the waves (3), (4) and (5) to the downside lie ahead prior to the end of Primary wave C (circle).

An anticipated target for the overall decline is 1.2710, where wave C (circle) equals 0.618 times the length of wave A (circle).

Cable - Weekly