empty
03.04.2019 10:22 AM
Wave analysis of GBP / USD for April 3. British pound can not determine the direction

This image is no longer relevant

Wave counting analysis:

On April 2, the GBP / USD pair added about 25 bp and failed to renew the previous local minimum. The wave pattern is again complicated, as the new downward trend starts on March 13, and this no longer looks like an impulse one. However, it takes the form of a narrowing triangle. The breakthrough of the top line forming this triangle will further complicate the current wave marking and, in fact, signal that there is no trend. The news background remains generally on the side of the US dollar, but yesterday's news from America helped the pound sterling, while news on Brexit predict another transfer.

Purchase goals:

1.3350 - 100.0% Fibonacci

1.3454 - 127.2% Fibonacci

Sales targets:

1.2961 - 0.0% Fibonacci

General conclusions and trading recommendations:

Wave pattern involves the construction of a downward trend. However, the tool had serious difficulties in the breakthroughs of 30 figures, which threw the pair up. The breakthrough of the upper line of the narrowing triangle will indicate that the pair is ready to increase by another 100-150 bp. Unsuccessful attempt of a breakthrough - to reduce 30 pieces to the area.

Chin Zhao,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Alexander Dneprovskiy
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD Analysis on July 21, 2025

The wave pattern of the GBP/USD pair continues to indicate the formation of a bullish impulse wave pattern. The wave picture closely resembles that of the EUR/USD pair

Chin Zhao 20:14 2025-07-21 UTC+2

EUR/USD Analysis on July 21, 2025

The wave pattern on the 4-hour EUR/USD chart has remained unchanged for several months. The formation of an upward trend segment continues, supported by the news background that favors

Chin Zhao 20:06 2025-07-21 UTC+2

Weekly Forecast Using Simplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, AUD/JPY, and USD Dollar Index – July 21st

GBP/USD Analysis: The British pound continues its downward movement, which began a month ago. After breaking a strong intermediate support level last week, the pair rebounded, forming a correction along

Isabel Clark 11:22 2025-07-21 UTC+2

Weekly Forecast Using Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and GOLD – July 21st

EUR/USD Analysis:The upward trend in the main euro pair, which began in February this year, has brought the quotes to the lower boundary of a broad potential reversal zone

Isabel Clark 11:05 2025-07-21 UTC+2

GBP/USD Analysis on July 18, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulse pattern. The wave picture is nearly identical to that of EUR/USD, as the sole driver

Chin Zhao 21:34 2025-07-18 UTC+2

EUR/USD Analysis on July 18, 2025

The wave pattern on the 4-hour chart of the EUR/USD pair has remained unchanged for several months. The formation of an upward trend segment continues, and the news background continues

Chin Zhao 21:21 2025-07-18 UTC+2

EUR/USD Analysis on July 17, 2025

The wave pattern on the 4-hour EUR/USD chart has remained unchanged for several consecutive months. The upward segment of the trend is still developing, while the news background continues

Chin Zhao 19:27 2025-07-17 UTC+2

GBP/USD Analysis on July 16, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulse wave pattern. The wave configuration is almost identical to that of EUR/USD, since the U.S. dollar

Chin Zhao 20:59 2025-07-16 UTC+2

EUR/USD Analysis on July 16, 2025

The wave pattern on the 4-hour chart for EUR/USD has remained unchanged for several consecutive months. The formation of the upward trend segment continues, and the news background continues

Chin Zhao 20:57 2025-07-16 UTC+2

EUR/USD Analysis on July 15, 2025

The wave pattern on the 4-hour chart for EUR/USD has remained unchanged for several consecutive months. The formation of the upward trend section continues, and the news background continues

Chin Zhao 20:07 2025-07-15 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.