empty
 
 
28.03.2019 12:05 PM
Wave analysis for GBP / USD pair on March 28. The Parliament of Great Britain did not accept anything important

Wave counting analysis:

This image is no longer relevant

On March 27, the GBP/USD pair fell by 40 basis points. Such a low market activity is explained by the fact that the British government did not take any important and unexpected decisions, despite the important parliamentary votes last night. All 8 options for Brexit were rejected by a majority of deputies. The only thing parliament has come to is the agreement to postpone Brexit to a later date. What Brexit will be like when this "later date" comes is still not clear and the instrument continues to be traded in a small price range. The outlook of the wave assumes the construction of a downward wave 3. But how does this wave form considering that the markets simply do not want to trade a pair? - That is, thanks to the news background.

Purchase targets:

1.3350 - 100.0% Fibonacci

1.3454 - 127.2% Fibonacci

Sales targets:

1.2961 - 0.0% Fibonacci

General conclusions and trading recommendations:

The wave pattern assumes the construction of a downward wave 3 has currently GBP/USD traders have no desire to trade. Hence, we need to wait until this market mood passes. So far, there is no reason to change the wave marking and the news background does not affect the tool.

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 $8000 more!
    In March we raffle $8000 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