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GBPUSD Double Zigzag To Complete Global Triple Zigzag

From orbex.com

GBPUSD seems to be forming a triple zigzag consisting of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. Now we are in the final sub-wave Ⓩ. It is likely that it takes the form of double (W)-(X)-(Y) zigzag of the intermediate degree. It seems that the decline in the intervening wave (X) has come to an end. The minor sub-waves W and X forming the intermediate actionary wave (Y) have also been completed. Thus, in the near future, the market could continue to move up in the final minor wave Y. The completion of the primary wave Ⓩ is possible near 1.4283. At that level, intermediate wave (Y) will be at 123.6% of wave (W). In the second ... (full story)

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  • Category: Technical Analysis