GBPUSD represents two of the most powerful economies in the world. Popularly known as the ‘Cable,’ is traded in the exchange market in high volumes. Arguably the second most popular currency pair among retail traders.
A cooling down Cable… The heat of Brexit is still surrounding the Cable. There was no surprise that GBPUSD went into a consolidation days after Brexit. The market saw sharp moves back and forth until the end of July with a 14-day ATR ranging around 200 pips. The current ATR has dropped to around 130 pips – … Read more
Long term wave count adjustment Pound-dollar long term weekly forecast and wave count has been altered to the following. In terms of direction, the expectation stays the same. The only difference between the alternate counts is the duration of current corrective structure. In the previous weeks forecast we were expecting a prolonged correction as the wave … Read more
Pound-dollar is really in range and there is still no clear direction as of yet. Last week we expected a rally to test the presumed upper band of the correction. The development of the current primary degree corrective structure is quite decisive. Because if it turns out to be a triangle, then there will be … Read more
GBPUSD weekly forecast 16 Jul 2016 Volatility of Gbpusd has been through the roof. The cable easily gallops 500 pips back and forth in a matter of few hours. Of course the volatility is good for traders. But is it really a good thing when the price is artificially sustained in a low-liquidity environment? I don’t think so. … Read more
GBPUSD alternate count ready to throw a bull party… Its really not the time to go bottom fishing in the GBPUSD. But if the gbpusd weekly chart intends to continue for a Flat correction, the cable might have seen the very bottom last week. Last week’s close was just 5 pips off from the 1.618 … Read more
Is the Cable in a free-fall? Gbpusd was in corrective wave for more than two weeks, since the Brexit debacle. Finally the pair managed to break out of the corrective structure to the downside, as expected. Our initial expectation was for an ABC correction with a C wave to reach as high as 1.34000 levels. In … Read more
GBPUSD Fundamental analysis Upcoming week will be a decisive one for the cable. For one reason there is the speech of Carney on Tuesday the 5th. The financial world is eager to learn the policy-developments of GBP, especially after the Brexit. In his last speech he did stress on uncertainty. However, he also gave clues that … Read more
GBPUSD saw a sharp bearish impulse on Friday the 24th after the release of Brexit referendum results of the previous day. GBPUSD Wave counts for each degree from Monthly chart to 15 Min. chart GBPUSD Weekly Elliott wave count It is assumed that the b wave of abc correction of the Supercycle is complete at – … Read more
Brexit materialized exactly as the word suggests GBPUSD just saw the most volatile week in 2016. With Brexit referendum poll on 23rd, there was a rally building up for the sharp decline from previous Thursday the 16th until the end of NY session on 23rd. Interestingly though Monday open of the markets marked a positive gap … Read more
GBPUSD Wave Count GBPUSD wave count – this GU daily chart was bugging me for a while. No strategy could explain or project the next move with some accuracy, except for the Wave Principle. So recently I set out on a mission – to dig deep into “The wave principle” if not commonly known as … Read more