Technical Analytics Report

GBP/USD: Wave Analysis Report 27 April 2021

GBP/USD: Wave Analysis Report 27 April 2021


The pair is in a correction and may grow.

 On the daily chart, the first wave of the higher level (1) developed, and a downward correction forms as the wave (2). Now, the wave A of (2) has formed, and the wave B of 2 is developing, within which the wave a of B has formed, and the wave b of B is ending. If the assumption is correct, after the end of the correction, the pair will grow to the levels of 1.4025–1.4100. In this scenario, critical stop loss level is 1.3803.

 Main scenario

 Long positions will become relevant after the end of the correction, above the level of 1.3803 with the targets at 1.4025–1.4100. Implementation period: 7 days and more.

 Alternative scenario

 The breakdown and the consolidation of the price below the level of 1.3803 will let the pair go down to the levels of 1.3669–1.3573.

 Scenario

 Timeframe: Weekly

Recommendation: Buy

Entry Point: 1.3889

Take Profit: 1.4025, 1.4100

Stop Loss: 1.3803

Key Levels: 1.3573, 1.3669, 1.3803, 1.4025, 1.4100

 Alternative Scenario

 Timeframe: Weekly

Recommendation: Sell Stop

Entry Point: 1.3800

Take Profit: 1.3669, 1.3573

Stop Loss: 1.3860

Key Levels: 1.3573, 1.3669, 1.3803, 1.4025, 1.4100


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