Thursday, 30 January 2014

GBPUSD ready to reverse

Hi Traders,

The GBPUSD stopped and reversed at 1.6668, a good "figure" short of my target at 1.6763-1.6810.

Although there's still a some potential for the very last jump up to the target at 1.6763-1.6810, that would be the Swan Song.

With or without jump, it's almost ready for a downtrend to the area 1.6127-1.6036 although the Wave Oscillator keeps warning to wait for a safe entry cross of the red lines.


first to 1.6763-1.6810 (maybe)


likely: 1.6127-1.6036
possibly: 1.6029-1.5963
maybe: 1.5859-1.5831


Entry only when the red lines of the wave oscillator cross. This is not happening in daily chart nor in the 4-hour chart.


Check the monthly chart. Theoretically the Pound is heading down to the area 1.60-1.58 and then back up to 1.70.

The weekly chart displays the target areas in green (calculated with the Fibonacci Queen Method) and blue (for simple Fibonacci calculations)

The daily chart shows the completion of 5 waves up. Note also the last 3 "doji" candles signalling weakness.

The 4-hour chart displays 5 complete waves up as well.

monthly chart - click to enlarge

weekly chart - click to enlarge

daily chart - click to enlarge

wave oscillator over the daily chart - click to enlarge

4-hour chart - click to enlarge

wave oscillator over the 4-hour chart - click to enlarge

1-hour chart - click to enlarge 

wave oscillator over the 1-hour chart - click to enlarge

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