Structural Shift: Y Developing into a Double Zigzag
Hello Traders,
It's good to be back stronger and better. I trust you are all doing great.
Below is my analysis of the current GBPUSD structure.
GBP/USD appears to have completed Wave X of a higher-degree W-X-Y double zigzag, with price now transitioning into Wave Y. The recent rejection at (x) suggests a bearish structural shift and the start of Wave (A) of Y.
The preferred count is as follows:
Wave (a): Decline toward 1.3000–1.2960
Wave (b): Corrective rebound (38.2–61.8% retracement of A)
Wave (c): Final impulsive decline toward 1.2950–1.2860, completing Wave Y.
Bias: Bearish
Invalidation: A sustained break above the recent (x) high (~1.3460–1.3480) would invalidate this count and suggest an alternative corrective structure.
Outlook: As long as price remains below the recent (x) high, selling corrective rallies remains the preferred strategy, with the overall expectation of Wave Y extending lower (below W at 1.30087) to complete the higher-degree correction.
Cheers and happy trading!!!!
Hello Traders,
It's good to be back stronger and better. I trust you are all doing great.
Below is my analysis of the current GBPUSD structure.
GBP/USD appears to have completed Wave X of a higher-degree W-X-Y double zigzag, with price now transitioning into Wave Y. The recent rejection at (x) suggests a bearish structural shift and the start of Wave (A) of Y.
The preferred count is as follows:
Wave (a): Decline toward 1.3000–1.2960
Wave (b): Corrective rebound (38.2–61.8% retracement of A)
Wave (c): Final impulsive decline toward 1.2950–1.2860, completing Wave Y.
Bias: Bearish
Invalidation: A sustained break above the recent (x) high (~1.3460–1.3480) would invalidate this count and suggest an alternative corrective structure.
Outlook: As long as price remains below the recent (x) high, selling corrective rallies remains the preferred strategy, with the overall expectation of Wave Y extending lower (below W at 1.30087) to complete the higher-degree correction.
Cheers and happy trading!!!!
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Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.