📐GBPUSD: a long-term triangle is forming!

12 Mar 2023

●● Preferred count
● British Pounds / U.S. Dollar 1:1 (GBPUSD),🕐TF: 30D

Fig. 1

A zigzag is expected to develop in wave (y), within which sub-wave b is formed in the form of a triangle.
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● British Pound / U.S Dollar (ICE), 🕐TF: 2W

Fig. 2

The globally alternative scenario is marked in black, which will be described in more detail below.
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● British Pound / U.S Dollar (FXCM), 🕐TF: 1D

Fig. 3

A sub-wave Ⓒ is formed within triangle b, which will take the form of a single zigzag (A)-(B)-(C).
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● British Pound / U.S Dollar (FXCM), 🕐TF: 6h

Fig. 4

The zigzag structure of ascending waves suggests the formation of (A) in the form of an leading diagonal — a pattern wedge-shaped, subdivided into overlapping zigzags.
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● British Pound / U.S Dollar (FXCM), 🕐TF: 45min

Fig. 5

Wave 2 is predicted as a double zigzag, in which sub-wave ⓧ has formed a flat. A decrease is expected within the wave ⓨ.
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●● Alternative count
● British Pound / U.S Dollar (ICE), 🕐TF: 2W

Fig. 6

The global alternative scenario assumes that the a-b-c zigzag in (y) was completed at the level of 1.0349. It is possible to hold a part of the long position in the calculation for the implementation of this wave count.
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