You are here: Home > articles > Forex > Wave analysis of GBP / USD for November 14. For the pound is nearing the next hour X
Wave analysis of GBP / USD for November 14. For the pound is nearing the next hour X
November 14, 2018 12:24 pmVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
Wave counting analysis:
During the November 13 trading session, the GBP / USD currency pair gained about 120 basis points. Thus, the likelihood that the descending wave b within the 3-wave upward structure is completed increases. If this is true, then the increase in quotations will continue with targets located near the 100.0% of the Fibonacci level. In the coming days, there should be new information on the progress of negotiations on Brexit and on the decision of the British parliament on whether or not Theresa May’s conditions determine the legal relationship between London and Brussels after the official release of Britain from the EU. This information can greatly affect the current wave counting.
The objectives for the option with purchases:
1.3124 – 76.4% of Fibonacci
1.3256 – 100.0% of Fibonacci
The objectives for the option with sales:
1.2638 – 261.8% of Fibonacci (senior grid)
General conclusions and trading recommendations:
The currency pair GBP / USD remains in the process of building an upward set of waves. Now, I expect to continue raising the instrument within wave c and, accordingly, I recommend buying a pair with targets near the estimated level of 1.3356, which equals 100.0% of the Fibonacci. To prevent the execution of this option may be a news background regarding Brexit.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: