empty
 
 
24.11.2017 11:00 AM
Wave analysis of the GBP/USD currency pair for November 24, 2017

This image is no longer relevant

Analysis of wave counting:

After a fairly dynamic price increase yesterday, the GBP/USD pair held in the range yesterday, staying mostly near the level of the 33rd figure. It can be assumed that the currency pair made an attempt to complete the wave e, in b, in the 4th and go to the stage of formation of the future wave c, in the 4th. If this is the case, with an increase to 1.3350, the currency pair will not further complicate the internal wave structure of e, in b, in the 4th, then the already apparent decline in quotations may be further developed towards the level of 1.3000.

Targets for a downward wave option:

1.3065 - 38.2% by Fibonacci

1.2882 - 50.0% by Fibonacci

Targets for an upward wave option:

1.3300 - 1.3400

The construction of the downward wave 4 in the upward trend section continues. Now it is possible to resume the decline in the price of the trading instrument with targets near the estimated level of 1.2882, which corresponds to 50.0% of Fibonacci, within the wave c, in 4. Wave b, in 4, resumed its construction, having complicated its internal structure, at about 33 and 34 figures.

Chin Zhao,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback