GBP/USD Bullish Reversal at 78.6% Fib after H&S Pattern

Srpanj 16, 2018 10:40


4 hour

Source: Admiral Markets MT5 with MT5SE Add-on GBP/USD motive wave

The GBP/USD made a strong bullish bounce at the 78.6% Fibonacci level of wave X vs W, which was also an inverted head and shoulders reversal pattern (purple boxes). The bullish momentum seems to be confirming a larger bullish correction within wave 2 (pink) via a WXY (purple) pattern. The break of the downtrend channel could confirm this wave pattern whereas a break below the Fib level could indicate a continuation of the downtrend.

1 hour

Source: Admiral Markets MT5 with MT5SE Add-on GBP/USD motive wave

The GBP/USD seems to have completed 5 bearish waves (green) within a wave C (blue) at the 78.6% Fib. The bullish bounce is showing strong bullish momentum and is most likely a bullish wave A (blue) of a larger ABC pattern.

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

Upozorenje o riziku

CFD-ovi su složeni instrumenti i dolaze s visokim rizikom od brzog gubitka novca zbog financijske poluge. 83% računa malih ulagatelja izgubi novac tijekom trgovanja CFD-ovima s ovim pružateljem usluga. Trebali biste razmotriti razumijete li kako CFD-ovi funkcioniraju te možete li si priuštiti preuzimanje visokog rizika od gubitka novca.