empty
 
 
pt
Suporte
Abertura instanânea da conta
Plataforma de negociação
Depósito/Retirada

13.02.202412:31 Forex Analysis & Reviews: GBP/USD wave analysis on February 13: Important time to open short positions

Exchange Rates 13.02.2024 analysis

Analyzing the situation on the GBP/USD pair in a four-hour timeframe. In the long-term perspective, a significant correction (B) with a complex internal structure in the form of a triple zigzag may be forming. It is labeled with five sub-waves W-X-Y-X-Z. Currently, the last active sub-wave Z is being formed.

Based on the initial part, the active wave Z seems to take the form of a double zigzag [W]-[X]-[Y]. At the moment, only the bullish wave [W] is completed, consisting of three main sub-waves (W)-(X)-(Y). Since the end of December of the previous year, the market has been moving downward in a correction connecting wave [X].

Most of the connecting wave [X] is already completed. It has the form of a double zigzag (W)-(X)-(Y), for the full completion of which a final impulse wave C is necessary. Within impulse C, the price may fall to the low of 1.2519, marked by sub-wave A. In the current situation, opening short positions can be considered.

It is worth noting today's important news in the United States, which is the Consumer Price Index for January. In recent months, these indicators have not exceeded expectations. Thus, the bearish trend may be confirmed.

Trading recommendation: Sell at 1.2645, take profit at 1.2519.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Roman Onegin,
Analytical expert of InstaSpot
© 2007-2025
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Não pode falar agora?
Faça sua pergunta no chat.