Main >
Analytics
>
Fresh forecast
>
Elliott waves analysis
>
Buy a break above the previous week's highest high towards 1.4485.

Buy a break above the previous week's highest high towards 1.4485. | 31 December 2019

31 December 2019, GBP/USD

Buy a break above the previous week's highest high towards 1.4485.

Wave Analysis

Just as in Euro, nothing much appears to be happening on the cable, on this chart, we are yet to see any clear extension of the corrective wave (iv) to the lowerside neither have we seen the continuation of the impulsive wave (v) to the upper side. As it is now, remaining flat looks ideal, but should the price break and close above the previous day;s highest high, then this will give us an ideal place to consider a long term buy order towards 1.4253 and could breakout even higher. If the price breaks and closes below the previous day's lowest low, then this will give us a good place to start thinking about a long term sell towards 1.2155.

Trade Recommendations:

Buy a break above the previous week's highest high towards 1.4485.

Bob Stan
Agree with the review?
Traders' opinion:
Close
Login

Tunjukkan kata laluan

Hide password

 Terlupa kata laluan anda?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.