Trading Signal | GBPUSD | Intraday | Elliott Wave
Trading Signal | GBPUSD Buy Orders | Intraday | Elliott Wave
Market: Forex Majors
Symbol: GBP/USD
Signal Category: Intraday
Direction: Bearish
Order Type: Market / Limit
(Entry / Stop Loss / Take Profit)
The following trading signal on the GBPUSD forex pair has been posted in the “Trading Signals” section.
Trading Signal | GBPUSD | Summary
GBPUSD started dropping in early February 2020, in what appears to be a continuation pattern for larger degree sequence.
A bearish leg would need to commence in order for the current correction to complete an Elliott Wave pattern.
The overall technical analysis would place GBPUSD in a complex structure, more exactly in a Triple Three correction.
Fibonacci Extensions are aligning with the Fibonacci Retracements, but there are also Bearish Harmonics agreeing.
The leg on the down-side should be impulsive by nature, reflecting Intermediate (C) (red).
Trading Signal | GBPUSD | Intraday BUY Orders
GBP/USD – 2H Chart (picture)
Trading Signal | GBP/USD | SELL Orders
Aggressive Entry @ Market price (approx. 1.3015) with SL @ 1.3150
Moderate Entry @ 1.3135 with SL @ 1.3250
Conservative Entry @ 1.3200 with SL @ 1.3315
TP @ 1.2925 / 1.2815 / 1.2730 / 1.2625 / 1.2520
Safety measure: when in the green, moving SL to break-even.
GBP/USD – 2H Interactive Chart
Ahoy my fellow trader,
Thank you for your interest in this article and the overall information I am proving.
Should you need any support or have any questions regarding the presented Wave Counts, please let me know.
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As always,
Many pips ahead!
Richard
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Trading CFDs or Foreign Exchange is risky and you should only invest what you can afford to lose, in a calculated manner.
All material presented by LEWA is not to be treated as investment advice and the analysis represents general market research.
Before you decide to take action, please be aware of the risks involved.
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