GBP/USD | Wave 5 Loading?

15 Mei

Hey traders 👋,
We're setting up for what could be a textbook Wave (5) breakout on the 4H GBP/USD chart. After a clean corrective pullback to the golden zone (0.618–0.705), bulls are stepping back in. Here’s the technical story:

⚙️ Technical Breakdown:
✅ Elliott Wave Structure:
Wave (4) seems complete following a controlled retracement. If this count holds, Wave (5) should extend us toward 1.34400+ and possibly 1.36300, aligning with fib extensions and previous impulse behavior.

📏 Fib Retracement:
Wave (4) respected the 0.618–0.705 zone perfectly (1.32235–1.32047), a classic launchpad in bullish cycles. Buyers showed strong interest here—textbook bounce material.

📊 EMA Stack (20, 100, 200):
Price is holding above the 100 and 200 EMAs, with the 20 EMA curling upward. If we get a clean cross and hold, that’s further confirmation of bullish continuation.

📉 RSI:
Sitting around 53, giving us enough room to run without immediate overbought pressure. RSI holding above 50 typically aligns with bullish continuation patterns.

🚨 Levels to Watch:
🔑 Entry zone: 1.32200–1.32400 (golden pocket pullback)
🎯 Target zone: 1.34400 ➜ 1.36300 (Fib + Wave 5)
❌ Invalidation: Clean break below 1.31770

🧠 Final Thoughts:
Structure is clean. Momentum is building. Fundamentals aside, this chart is screaming setup potential.

📢 What’s your take on this setup?
Drop your thoughts 👇 and don’t forget to like if you’re bullish too 🟢
WrightWayInvestments
WrightWayInvestments
WrightWayInvestments

19 Mei

Dagangan aktif