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19.06.2018 01:45 PM
Review of GBP / USD pair for a week of June 19 on simplified wave analysis

The wave pattern of the H4 graph:

The direction of short-term trends of the major pound from January 25 this year sets the bearish wave algorithm. By now the structure has been formed, the preliminary goal has been achieved.

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The wave pattern of the H1 graph:

The bearish wave of April 17 is the closest to this scale. It completes a larger wave model. Quotations have reached the upper boundary of the potential reversal zone.

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The wave pattern of the M15 chart:

The last wave can be considered a bearish section of the traffic from June 7. In the near future, within the framework of this wave, an upward pullback is expected.

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Recommended trading strategy:

Sales are risky and not recommended. For all bidders, it's more logical to wait for the current bearish wave to end and look for signals to buy a pair.

Resistance zones:

- 1.3450 / 1.3500

Support zones:

- 1.3180 / 1.3130

Explanations to the figures:

A simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (ABC). The last incomplete wave for every timeframe is analyzed. Zones show the calculated areas with the greatest probability of a turn.

Arrows indicate the counting of wave according to the technique used by the author. The solid background shows the generated structure and the dotted exhibits the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need to confirm the signals used by your trading systems

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