empty
 
 
09.10.2019 07:09 AM
Elliott wave analysis of GBP/JPY for October 9, 2019

This image is no longer relevant

Renewed uncertainty regarding Brexit whether it will be a hard or soft exit from the EU, has once again pushed GBP lower. Despite a clear loss of downside momentum, our long-term ideal target at 130.78 has been broken and a low has been seen at 130.40. Even though 130.78 has been broken, we still believe that the potential downside from here is limited to 129.95 before a turn higher.

To ease the downside pressure, we need a break above minor resistance at 131.09, while a break above resistance at 131.70 will indicate that a bottom for red wave ii has been seen and a new impulsive rally towards 139.15 is developing.

R3: 132.25

R2: 131.77

R1: 131.33

Pivot: 131.09

S1: 130.71

S2: 130.40

S3: 129.95

Trading recommendation:

Our stop at 131.00 was hit for a small loss. We will buy GBP at 130.05 or upon a break above 131.09

Torben Melsted,
Analytical expert of InstaForex
© 2007-2025
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback