Simplified wave Analysis. Review of the GBP / USD for November 8

Wave pattern graphics H4:

From August 15, the trend of the major trend. The first parts of the wave are completely formed.

Wave pattern graphics H1:

Beginning from September 20, a downward wave zigzag in the H4 wave.

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Wave pattern graphics M15:

The wave of October 30 has a pronounced impulse character. The price is approached. Before the final pull-down, a lateral flat is likely.

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Recommended trading strategy:

Sales pair are premature. It is recommended to track the signal. The preliminary lifting potential is limited to rated resistance.

Resistance zones:

– 1.3220 / 1.3270

Support areas:

– 1.3050 / 1.3000

Explanations for the figures: The simplified waveform analysis (A – B – C). For the analysis, 3 main TFs are used, it is analyzed. Zones show calculated areas with the highest probability of reversal.

The arrows indicate the number of wave markings used by the author. The solid background shows the formed structure.

Note: The wave algorithm doesn’t take into account the movement of movement over time. To trade a trade transaction, you need to confirm your trading systems!

The material has been provided by InstaForex Company – www.instaforex.com