Overview of GBP / USD with a forecast for the current day
The British currency began to rapidly lose its positions in its main pair since July. The reduction potential has not been exhausted so far. The most pessimistic forecast assumes a final parity with the American currency.
Since the beginning of this year, the upward part of the chart has formed a correction wave. Analysis of its internal structure and the achievement of target zones indicate a high chance of the wave ending and a change in trend direction in the near future.
On a small scale, the last, incomplete for today, is a downward wave. It starts from the 3rd of August. Within the movement in recent weeks, a correction has been formed, which should be completed in the coming sessions.
In the morning, an upward mood is expected. The growth of quotations above the upper limit of the resistance zone is unlikely. Then you can count on the change of the course and the beginning of the decline.
The boundaries of the resistance zones:
- 1.2870 / 1.2900
The boundaries of the support zones:
- 1.2790 / 60
AUD / JPY overview with the current day forecast
On the chart of the Australian dollar cross to yen, an upward trend wave reached the area of the reversal zone, reinforced by the resistance level of a large scale. Taking into account the completeness of the wave structure, the probability of its termination significantly increases.
The beginning of the July 21 decline in its potential is very similar to the first part of the reversal zigzag, preceding the change of direction of the trend. The lateral oscillations of the last weeks begin to form the rollback part (B) of the wave structure.
Today, the most common is the flatness of the vibrations. In the first half of the day, a downward motion vector is more likely. Towards the end of the day, a change in direction and growth of quotations are expected. The design areas limit the estimated daily range of the pair.
The boundaries of the resistance zones:
- 86.80 / 87.10
The boundaries of the support zones:
- 86.00 / 85.70
Explanations to the figures: For simplified wave analysis, a simple type of wave is used that combines 3 parts (A; B; C). Of such waves, all kinds of correction are composed and most of the impulses. On each considered time-frame the last, incomplete wave is analyzed.
The zones marked on the graphs are indicated by the calculation areas in which the probability of a change in the direction of motion is significantly increased. Arrows indicate the wave counting according to the technique used by the author. The solid background of the arrows indicates the structure formed, the dotted one indicates the expected wave motion.
Note: The wave algorithm does not take into account the duration of the tool movements in time. The forecast is not a trading signal! To conduct a transaction, you need to confirm the signals used by your trading systems.