empty
05.03.2023 07:16 PM
GBP/USD. Analysis for March 6, 2023

This image is no longer relevant

The wave pattern for the dollar pair now appears to be challenging, but it does not call for any clarifications. The wave patterns for the euro and the pound differ somewhat, but both point to a decrease. Our five-wave upward trend part has the pattern a-b-c-d-e and is most likely already finished. I predict that the downward part of the trend has begun and will continue to develop, taking at least a three-wave shape. Although Wave B appeared to be unnecessarily prolonged, it did not cancel. So, it is now anticipated that a wave has started to form with a downward trend section, the targets of which are situated below wave a's low. The price would be at least 300–400 points less than it is at the moment. Although it's too soon to speculate, I believe wave c may end up being deeper and that the entire downward part of the trend may potentially adopt a five-wave pattern. For a very long time, the pair has been on the verge of starting up again with the creation of an upward trend section. Since wave c has not yet finished, the low of the assumed wave a has not yet been broken.

On Friday, the Pound/Dollar exchange rate increased by 100 basis points. I don't think that such a sharp increase in quotes is appropriate given the news context from Friday. Only the UK and the USA's business activity indices for the service sector could be studied by the market. The American index did well, but demand for British currency increased all day. The British index, which likewise turned out to be strong, coincided exactly with the American one for some unknown reason. I think the pair's movements on Friday may have changed.

Last week, Bank of England Governor Andrew Bailey also delivered a speech. He rarely speaks, but when he does, his points are always made clearly and concisely. This time, he claimed that no final decision on the interest rate had been made by the regulator. There is no "peak" value, no cause to believe that the Bank of England will stop raising interest rates soon, and no indication that this cycle of rate increases has come to an end. The Bank of England's target, according to Bailey, is stability at this rate over the long term, not a 2% rate cut. However, he stated that the state of the economy is satisfactory and that, given the tightening of monetary policy, people should exercise greater caution because of the potential negative effects on the economy. At the same time, Bailey thinks that the excessively pessimistic stance of the Bank of England will now force the necessity to raise the rate significantly further in the future. Balance is crucial. There is still a lack of qualified workers in the UK labor market, which drives up wages and further accelerates inflation. The Bank of England Governor's comments, in my opinion, should be taken with a large grain of salt. These words could cause the British to lose demand, which is exactly what is required right now to prevent the wave marker from being broken.

This image is no longer relevant

Conclusions in general.

The development of a downward trend section is implied by the wave pattern of the pound/dollar pair. Currently, it is conceivable to think of sales with targets near the level of 1,1508, which corresponds to 50.0% of the Fibonacci sequence. The peaks of waves e and b could be used to place a Stop Loss order. Wave c might be shorter in duration, but for the time being, I anticipate a minimum 300–400 point decline (from current levels).

The image resembles that of the euro/dollar pair at higher wave scales, but there are still minor distinctions. The upward correction part of the trend has now been completed. If this presumption is true, then we must wait for the development of a downward section to continue for at least three waves with the possibility of a decrease in the region of Figure 15. If this presumption is accurate, then we should be anticipating the continuation of the development of a downward section for at least three waves with the possibility of a decrease in the region of Figure 15.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

SP500 25 de abril. ¡Subimos siguiendo a Bitcoin!

Desde el punto de vista de las ondas de Elliott, en el índice se está formando una gran tendencia impulsiva en una perspectiva global. No hace mucho se completó

Roman Onegin 10:06 2025-04-25 UTC+2

NG 12 Feb. ¡Los toros mantienen el rumbo hacia un máximo de 4,31!

El marco temporal de cuatro horas muestra el trazado de una onda activa principal (Y), que tiene una forma interna compleja y es un doble zigzag de un nivel

Roman Onegin 07:26 2025-02-12 UTC+2

SP500 12 de febrero. ¡Después de la finalización de la segunda parte del impulso, el precio puede subir más activamente!

Lo más probable es que se esté formando una tendencia alcista mayor en el panorama global del SP500, cuya estructura es similar a la del impulso. Si nos fijamos

Roman Onegin 07:26 2025-02-12 UTC+2

Análisis del par EUR/USD. El 7 de julio. ¿Dónde se encuentra la raíz de todos los problemas del dólar?

El conteo de ondas en el gráfico de 4 horas para el instrumento EUR/USD permanece sin cambios. Actualmente estamos observando la formación de la supuesta onda

Chin Zhao 15:58 2024-07-07 UTC+2

Análisis del par EUR/USD. El 6 de julio. El destino complicado del dólar.

El conteo de ondas en el gráfico de 4 horas para el instrumento EUR/USD permanece sin cambios. Actualmente estamos observando la formación de la supuesta onda

Chin Zhao 15:57 2024-07-07 UTC+2

Análisis del par GBP/USD. El 6 de julio. La libra quiere caer, pero no puede.

La estructura de ondas del instrumento GBP/USD sigue siendo bastante complicada y muy confusa. Alrededor del nivel de 1.2822, que corresponde al 23.6% de Fibonacci y está cerca del pico

Chin Zhao 15:57 2024-07-07 UTC+2

Análisis del par GBP/USD. El 22 de junio. El mercado espera la primera bajada de los tipos de interés en agosto.

El patrón de onda para el instrumento GBP/USD sigue siendo bastante complicado y confuso. Un intento exitoso de romper el nivel de Fibonacci del 50,0% en abril indicó

Chin Zhao 13:12 2024-06-22 UTC+2

Análisis del par EUR/USD. El 22 de junio. La Fed: No está lista para el aterrizaje.

En el gráfico de 4 horas, no hay cambios en la marca de la onda para el instrumento EUR/USD. En este momento, observamos la construcción de la esperada onda

Chin Zhao 10:51 2024-06-22 UTC+2

Análisis del par GBP/USD. El 8 de junio. Los británicos retrocedieron, pero no se rindieron.

El patrón de onda para el instrumento GBP/USD sigue siendo bastante complicado. El intento exitoso de romper el nivel de Fibonacci del 50,0% en abril indicó que el mercado está

Chin Zhao 08:27 2024-06-09 UTC+2

Análisis del par EUR/USD. El 8 de junio. El BCE confía en una mayor desaceleración de la inflación.

El patrón de onda del gráfico de 4 horas para el instrumento EUR/USD se mantiene sin cambios. En este momento, estamos observando la construcción de la onda esperada

Chin Zhao 08:26 2024-06-09 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el 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.