Monday, 16 March 2015

GBPUSD Major Turning Point

Hi Traders, 

The GBPUSD (now at 1.4774) seems to be almost ready to bottom down around 1.46-1.45 and reverse. Once this occurs, a Major Turning Point and a subsequent rally will follow soon. Not to be missed.

Have a look at the blue lines in the monthly chart for the targets

first down to 

likely: 1.4665
possibly: 1.4602 - 1.4556
maybe: 1.4583-1.4538

Then up:

likely: 1.5174-1.5156
possibly: 0.5320-1.5466


The monthly and weekly charts display that we are reaching the bottom of a major wave. At this stage, it is not clear which Elliott pattern this wave belongs to. What it's clear is that we are close to a turning point and there will be a retracement as a minimum.

The daily chart shows that we are performing wave 5 and the 4-hour and 1-hour charts shows that this could happens within a week.

monthly chart - click to enlarge

weekly chart - click to enlarge


daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge


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