You are here: Home > articles > Forex > Wave analysis of GBP / USD for April 25. British pound fully fulfills the wave pattern
Wave analysis of GBP / USD for April 25. British pound fully fulfills the wave pattern
April 25, 2019 10:23 amVideo
Latest News
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
- Video market update for April 18, 2024 April 18, 2024
- Technical Analysis – WTI oil futures exit sideways move to the downside April 18, 2024
- Market Comment – US dollar on the back foot as nervousness lingers in equity markets April 18, 2024
- Hot forecast for EUR/USD on April 18, 2024 April 18, 2024
- EUR/USD and GBP/USD: Technical analysis on April 18 April 18, 2024
- Trading plan for GBP/USD on April 18. Simple tips for beginners April 18, 2024
- Trading plan for EUR/USD on April 18. Simple tips for beginners April 18, 2024
- The Fed and global instability: a double blow to American markets April 18, 2024
- Forecast for EUR/USD on April 18, 2024 April 18, 2024
- Forecast for GBP/USD on April 18, 2024 April 18, 2024
- Forecast for AUD/USD on April 18, 2024 April 18, 2024
- Outlook for GBP/USD on April 18. Pound was not impressed by the inflation data April 18, 2024
On April 24, the GBP / USD pair dropped another 35 basis points, having fulfilled a previously successful attempt to break through the 100.0% Fibonacci level. Thus, the current wave counting implies a further reduction of the instrument with targets of 127.2% and 161.8% Fibonacci as part of building the proposed wave 3. Considering the unresolved situation around Brexit, I assume that the pair can update the minima in the future this year. The pound sterling does not receive any support from the news, and this is a significant factor for the market to continue getting rid of this currency. In the coming months, market sentiment will again depend on the progress of reaching an agreement on Brexit, no longer between the EU and the UK, but between Theresa May and the Parliament.
Purchase goals:
1.3118 – 61.8% Fibonacci
1.3168 – 50.0% Fibonacci
Sales targets:
1.2839 – 127.2% Fibonacci
1.2693 – 161.8% Fibonacci
General conclusions and trading recommendations:
The wave pattern still involves building a downtrend trend, especially after breaking through the bottom line of the triangle. Now, I recommend selling a pair with targets located near the estimated marks of 1.2839 and 1.2693, which corresponds to 127.2% and 161.8% in Fibonacci.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: