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Comparative Analysis of multiple currency pairs
The currency pair may develop.
On the daily chart, a downward correction formed as the fourth wave of the higher level 4 and the fifth wave 5 began to develop, within which the fifth wave (1) of 5 forms. Now, the third wave of the lower level 3 of (1) is forming, within which lock I of 3 has started, and the wave ii of 3 has developed as a local corrective.
During the correction, long positions will become significant above the level of 1.2546, with 1.3200–1.3410. Time to implement: 7 days or more.
The pair will drop to levels of 1.2285–1.2100 if the price breaks down and consolidates below the level of 1.2546.
The currency pair may separate.
The first downward wave of the upper level (1) of 3 formed on the daily chart, followed by an upward corrective as wave (2) of 3, within which the wave C of (2) formed. The third wave (3) of three is now forming, inside which the wave I of one of three is forming. If the assumption is correct, the pair will drop to 0.8921–0.8758 levels. The crucial stop-loss threshold in this scenario is 0.9295.
During the correction, short positions will become significantly below the level of 0.9295, with objectives of 0.8921–0.8758. Time to implement: 7 days or more.
The pair will fall to levels of 0.9490–0.9668 if the price breaks down and consolidates above the level of 0.9295.
GBP/USD: There’s a chance of a global trend reversal.
The GBP/USD currency pair is trading within the global downtrend channel, nearing the resistance line. Technical indicators maintain the worldwide buy signal: the Alligator indicator’s fast EMAs are above the signal line. The AO oscillator’s histogram trades in the purchase zone, generating ascending bars.
1.3478 and 1.3205 are two levels of support.
1.3575 and 1.3820 are resistance levels.
Long bets with a target of 1.3850 will be essential if the asset continues its correctional growth and the price consolidates over the primary barrier at 1.3566. 1.3480 is the stop-loss level—time to implement: 7 days or more.
Short positions can be opened if the asset reverses and continues its global slide, consolidating below the support level of 1.3362. Short bets with a target of 1.3170 can be spread. 1.3450 is the stop-loss level.
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