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Euro/British Pound (EURGBP) Day Chart
EURGBP Elliott Wave Technical Analysis
Details
Orange wave 2 appears to have been completed, with orange wave 3 now in progress. This marks the continuation of a bearish trend within the Elliott Wave framework.
If the price reaches this level, the current wave count and bearish perspective will be invalidated. This serves as a key threshold for both trend confirmation and risk management.
Analysis Overview
This Elliott Wave analysis evaluates the EURGBP currency pair on a daily chart, emphasizing a bearish trend. The pair is currently in an impulsive phase, with orange wave 3 active following the completion of orange wave 2. This ongoing phase signals strong bearish momentum, anticipating further declines.The current wave position is within navy blue wave 3, forming a subset of the broader orange wave 3 structure. As orange wave 3 progresses, downward movement is expected to continue, reinforcing the bearish outlook.The price remains below the invalidation level of 0.84483, confirming the bearish wave count. This critical level ensures the validity of the trend analysis and supports traders in managing potential risks effectively.
Summary
The Elliott Wave analysis indicates:
As orange wave 3 develops, continued downward movement is anticipated, maintaining the bearish perspective unless the price breaches the invalidation level.
Euro/British Pound (EURGBP) 4-Hour Chart
EURGBP Elliott Wave Technical Analysis
Details
Orange wave 2 appears complete, with orange wave 3 now in progress. This signifies a continuation of the bearish momentum within the Elliott Wave structure.
Should the price rise to this level, the current wave count and bearish outlook will be invalidated. This level is critical for risk management and trend confirmation.
Analysis Overview
This Elliott Wave analysis examines the EURGBP currency pair using a 4-hour chart. The focus is on a bearish trend, with the market in an impulsive phase. Orange wave 3 is actively unfolding after the confirmed completion of orange wave 2, indicating intensified downward momentum.The current wave position lies within navy blue wave 3, a component of the broader orange wave 3 structure. This phase is marked by strong bearish momentum, with further price declines anticipated as orange wave 3 progresses.The invalidation level of 0.84483 acts as a key benchmark, ensuring the validity of the wave count and providing a reference point for managing potential risks. Staying below this level confirms the continuation of the bearish trend.
Summary
The Elliott Wave analysis highlights:
This analysis projects continued downward momentum as orange wave 3 unfolds further within the impulsive phase, reinforcing the bearish sentiment unless the price breaches the invalidation level.
Technical Analyst: Malik AwaisSource: Tradinglounge.comMore By This Author:Unlocking ASX Trading Success: Sonic Healthcare Limited
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