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Elliott Forecast

Eric Morera

Elliott Wave View: GBPUSD Looking for Further Downside

March 10, 2022 By

Short Term Elliott Wave View in GBPUSD suggests that the decline from February 18 peak is unfolding as a . Down from February 18, wave (i) ended at 1.3536, and rally in wave (ii) ended at 1.3621. Pair then resumes lower in wave (iii) towards 1.3272, and rally in wave (iv) ended at 1.3439. Final leg lower wave (v) ended at 1.327 which also completed wave ((i)). Rally in wave ((ii)) completed at 1.3417 with internal subdivision as a zigzag. Up from wave ((i)), wave (a) ended at 1.335, pullback in wave (b) ended at 1.3308, and wave (c) higher ended at 1.3417 which completed wave ((ii)).

Pair resumes lower in wave ((iii)) with internal subdivision as an impulse. Down from wave ((ii)), wave (i) ended at 1.336, and wave (ii) ended at 1.3393. Pair resumes lower in wave (iii) which ended at 1.3138, and wave (iv) rally ended at 1.3214. Final leg lower wave (v) of ((iii)) ended at 1.3080. Wave ((iv)) rally in GBPUSD ended at 1.3190 with internal subdivision as a flat Elliott Wave structure. Near term, expect pair to extend lower in wave ((v)). As far as pivot at 1.3417 high stays intact, rally should fail in the sequence of 3, 7, or 11 swing for further downside.

GBPUSD 60 Minutes Elliott Wave Chart

GBPUSD Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-gbpusd-looking-downside/

#elliottwave #trading #GBPUSD

15/03/2022 1 EN

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Elliott Forecast

Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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