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27.10.202008:06 Análise de Forex: Elliott wave analysis of GBP/JPY for October 27, 2020

Exchange Rates 27.10.2020 analysis

We continue to look for short-term key-support at 136.26 to be able to protect the downside for a new impulsive rally higher towards 137.67 and ultimately higher to and above the former peak at 142.72. That said, we have to be aware, that an unexpected break below 136.26 will delay the expected upside pressure and call for a new dip closer to 135.33 and possibly even closer to 135.03 before the next wave higher can begin.

R3: 137.32

R2: 137.04

R1: 136.74

Pivot: 136.80

S1: 136.26

S2: 136.04

S3: 135.58

Trading recommendation:

We are long GBP from 135.55 with our stop + revers placed at 136.20

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Torben Melsted,
Especialista em análise
do Grupo InstaForex © 2007-2021
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