Wave analysis of the GBP/USD currency pair for May 11, 2018 888011000 110888 Analysis of wave counting: The soft stance of the leadership made at the yesterday’s conference of the Bank of England, and the retention of the crucial bank rate at the exact same level, provoked a surge in trading volatility, which enabled the GBP/USD set to update its Tuesday low, reaching a mark of 1.3460. Therefore, it seems that the currency set still remained within the limits of wave a, in c, in b, in B, in C, in C, in(A)and significantly complicated the wave structure of its internal wave c. If this holds true, then virtually from the lows of the previous day, or after the decline to the level of the 34th figure, the currency pair will still show a u-turn and go to the stage of development of the first producing waves in the future wave b, in c, in b, in B, in C, inC, in(A). Targets for purchasing:1.3647-76.4 %by Fibonacci Targets for selling: 1.3414-127.2%by Fibonacci 1.3400 General conclusions and trading suggestions: The trading instrument went on to make complex the internal wave structure of wave a, in c, in b, in B, in C, in C, in(A). Therefore, now it is advised to sell the trading instrument with a target of about 1.3414, which corresponds to 127.2 %of Fibonacci, and below about 34 figures. A not successful effort to break through the 1.3414 mark will lead to a conclusion that the trading instrument is all set to build a waveb with targets above 1.3647, which represents 76.4%of Fibonacci.The product has actually been supplied by InstaForex Business-www.instaforex.com

By | May 12, 2018

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