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GBPUSD Completes First Leg Down - 4H Elliott Wave Count

Jignesh Опубликовано 2 Июль  в #Trader's blog #Gbpusd #Elliot Wave #Channel
The GBPUSD wave structure as of late has been a tricky one to count, but with the help of a channel confluence, it looks like the pair in an area that could complete the cycle from 1.5928.
The chart below shows the 4H count
As per the count, the pair has now completed wave (a). We would expected a retracement from this point towards the highs at 1.5928 to complete wave (b) before the pair once again turns bearish in wave (c).
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GBPCAD looking to retest highs once again

Jignesh Опубликовал 31 Окт. как анализ GBP/CAD , Цель: 1.8580, Дата: 1-е Декабря, 12:00 GMT  в #Technical analysis #GBP/CAD #Fibonacci #Elliot Wave #Elliott Wave #Abc Correction #Gbpcad
GBPCAD has a clear wave count that can be seen on smaller time cyles which gives a better insight on the overal picture as the pair has mostly been consolidating for the year.
Levels
1.7653 - Daily Support Zone
1.7850 - Monthly Fib Level
1.8580 - Resistance
1.8648 - Previous spike high
The month chart shows the pair has not been able to close below it's 23.6% retracement, and the most recent leg catching a good bounce from that area as per the below chart.
Figure 1 - GBPCAD Monthly - fails to po
…
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4 Комментарии
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Jignesh 5 Нояб.

The pair has started the month on a bullish note, and has caught some resistance at 1.8288.  So far it looks like a double correction has been completed and a pull back is anticipated here.  1.8070 offers a good support zone with the 50% Fib level as well as previous resistance.  The second support level would be the important 1.7952.  As long as price is contained by these levels, the upside view remains.

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Jignesh 9 Нояб.

The pair ended the week with what appears to be a double bottom on smaller time frames against 1.7952.  The level is an important level in larger time frames and also marks the 76.4% retracement of the last leg up 1.7853-1.8288.  This is a critical level for upside momentum for the month.  The CAD has been showing strength as of late, and thus will be monitoring this level for the week.

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Jignesh 17 Нояб.

The pair has broken through support and continues to look bearish. 

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Jignesh 25 Нояб.

The technicals on this pair continue to look weak, as well from a fundamental perspective the GBP has become very bearish.  I don't anticipate a turn around in the pair

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