{"id":166805,"date":"2020-03-18T13:57:38","date_gmt":"2020-03-18T17:57:38","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=166805"},"modified":"2020-03-18T12:03:31","modified_gmt":"2020-03-18T16:03:31","slug":"gbpusd-bearish-impulse-not-done-yet","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/03\/gbpusd-bearish-impulse-not-done-yet\/","title":{"rendered":"GBPUSD: Bearish Impulse Not Done Yet"},"content":{"rendered":"
March 18, 2020<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

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The current GBPUSD structure hints at a bearish zigzag consisting of primary waves \u24b6-\u24b7-\u24b8.<\/p>\n

The first two waves of the structure are fully completed: wave \u24b6- formed a 5-wave impulse, wave \u24b7 has taken the form of a triangle, wave \u24b8 is still under development and expected to have to maintain wave \u24b6- \u2018s pattern; a 5-wave impulse.<\/p>\n

The bearish 5-wave impulse is expected to be completed near 1.1595. At that level, prices will reach the 261.8% extension of wave \u24b6.<\/p>\n

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Without a meaningful retracement so far though, we must consider an alternative scenario.<\/p>\n

In this scenario, the i primary impulse \u24b8 formed as we speak, is seen as an intermediate impulse wave (1). This suggests further weakness than the first scenario does.<\/p>

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This wave can find an intermediate bottom near 1.1618, in which case, minor wave 5 will be at the 150% extension of minor bearish impulse 3.<\/p>\n

After the completion of the impulse (1), we could see a small correction in minor (2) near the 1.2400 area. This target would respect the tenancy prices retracing 50% of wave (1).<\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex The current GBPUSD structure hints at a bearish zigzag consisting of primary waves \u24b6-\u24b7-\u24b8. The first two waves of the structure are fully completed: wave \u24b6- formed a 5-wave impulse, wave \u24b7 has taken the form of a triangle, wave \u24b8 is still under development and expected to have to maintain wave \u24b6- […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-166805","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=166805"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166805\/revisions"}],"predecessor-version":[{"id":166812,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166805\/revisions\/166812"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=166805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=166805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=166805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}