FX.co ★ Simplified wave analysis and forecast for GBP/USD, USD/JPY, USD/CHF on February 25

GBP/USD

Analysis:

The upward trend of the British pound led the quotes to the area of a strong resistance zone of a large scale. The wave structure is not complete. Since the beginning of the current week, the price has been moving mainly in the lateral plane, forming an intermediate correction.

Forecast:

In the coming sessions, we expect mainly a sideways vector of price movement along with the calculated support. By the end of the day, the probability of a reversal and a second attempt at growth increases.

Potential reversal zones

Resistance:

- 1.4240/1.4270

Support:

- 1.4110/1.4080

Recommendations:

During a flat, trading on the pound market can be unprofitable. At the end of the downward movement, it is recommended to track the signals for buying the instrument.

USD/JPY

Analysis:

Within the framework of the dominant bearish trend on the chart of the Japanese yen, an upward wave has been developing since the beginning of this year. In the structure of this movement since the beginning of February, a correction was worked out, which added a wave level to the movement. The wave corrects the entire previous trend section.

Forecast:

In the first half of the day, a short-term decline is expected today, no further than the support zone. By the end of the day, you can expect the resumption of the upward mood. The resistance zone is located at the lower edge of the strong reversal zone of the older TF.

Potential reversal zones

Resistance:

- 106.30/106.60

Support:

- 105.50/105.20

Recommendations:

Selling the yen today is risky and not recommended. The priority of purchases is saved. It is worth considering the limited potential of the upcoming recovery.

USD/CHF

Analysis:

The Swiss franc chart has been dominated by a downward trend for the past year. Since the beginning of January of the current year, the price is adjusted. The price is located in the resistance area of the older TF. There are no reversal signals on the chart. The correction may continue, with an increase in its overall wave level.

Forecast:

Today, the price is expected to move in the corridor between the nearest counter zones. In the first half of the day, a downward vector is likely. You can expect a change of direction at the end of the day or tomorrow.

Potential reversal zones

Resistance:

- 0.9090/0.9120

Support:

- 0.9030/0.9000

Recommendations:

Trading on the franc market today is possible only within the framework of individual trading sessions. Until clear reversal signals appear in the purchase priority, a fractional lot is safer.

Explanation: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of the arrows shows the formed structure, and the dotted line shows the expected movements.

Attention: The wave algorithm does not take into account the duration of the tool movements in time!