empty
31.05.2023 06:28 PM
GBP/USD. Analysis for May 31. Fate favors the dollar!

This image is no longer relevant

The wave labeling for the GBP/USD pair must still be simplified and clarified. It does not resemble a classical corrective or impulsive segment of the trend. Currently, the formation of an upward trend segment in the pound continues, and from March 8 to May 10, I can identify only one wave of the current scale. Therefore, forming a new trend segment will take a lot of time and will be very elongated.

Both pairs should form similar wave formations. If true, wave 2 or b in the pound may be elongated, while a downward three-wave structure may be formed in the euro. Thus, I expect a deep wave b, similar to the formation of the previous three-wave structure where wave b constituted 100% of wave a. Therefore, we can expect a decline in the pair towards the 1.1850 level or slightly higher. At the moment, wave 1 or a has all the necessary grounds to be considered complete. The recent increase in quotes should allow wave b's formation.

Buyers quickly retreated.

The GBP/USD exchange rate decreased by 20 basis points on Wednesday, but there was a significant amplitude during the day. The exchange rate fluctuated both up and down. In the first half of the day, demand for the pound naturally declined as the news background did not drive yesterday's increase. An attempt to break the 1.2445 level indicates market unpreparedness for new purchases and the formation of a new upward wave. After lunch, there was an increased demand for the US dollar, but overall, a downward wave is still being formed, which aligns with the current wave labeling.

In the US, only one report of note was released today. The number of job openings in the US increased to 10.1 million in April from 9.745 million in March. The market was expecting the number to decrease again to 9.2 million. The US labor market continues to show excellent conditions that do not correspond to the current interest rate value. FOMC members have been warning the markets about a possible labor market tightening, but so far, none of their forecasts have come true. Nonfarm Payrolls consistently exceed market expectations, the unemployment rate remains at a half-century low, and the number of job openings is increasing again. The economic statistics in the US remain stronger than in the UK, which is sufficient for the demand for the US dollar to continue to rise. If the Bank of England starts giving unambiguous signals of stronger policy tightening, it could increase the pound. However, for now, I expect a further decline in the pair. Tomorrow and the day after are important days with significant statistics in the US, so there may be high market activity.

This image is no longer relevant

General conclusions.

The wave pattern for the GBP/USD pair has long implied the formation of a downward wave. Wave b can be very deep as recent waves have been approximately equal. The unsuccessful attempt to break the 1.2445 level, which corresponds to 100.0% Fibonacci, indicates the market's readiness for new sales. Therefore, I recommend selling the pound with targets around the 23 and 22 figures. The decline in the pair could be even stronger.

The pattern resembles the euro/dollar pair on a higher wave scale, but some differences remain. The downward corrective segment of the trend is complete, but the formation of a downward wave may begin now. This wave can be deep and protracted, and the entire trend segment can be horizontal, similar to the previous one.

Pilih timeframe
5
mnt
15
mnt
30
mnt
1
jam
4
jam
1
hari
1
minggu
Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES

Artikel yang direkomendasikan

Analisis GBP/USD pada 22 Mei 2025

Untuk pasangan GBP/USD, struktur gelombang terus menunjukkan perkembangan tren impulsif bullish. Pola gelombang hampir identik dengan EUR/USD. Hingga 28 Februari, kami mengamati pembentukan struktur korektif yang jelas tanpa keraguan. Namun

Chin Zhao 18:12 2025-05-22 UTC+2

Analisis EUR/USD pada 21 Mei 2025

Pola gelombang pada grafik 4 jam untuk EUR/USD telah berubah menjadi struktur bullish dan terus bertahan demikian. Saya yakin tidak ada yang meragukan bahwa transformasi ini terjadi semata-mata karena kebijakan

Chin Zhao 18:56 2025-05-21 UTC+2

Analisis GBP/USD pada 21 Mei 2025

struktur wave , sebagian besar dipengaruhi oleh Donald Trump. Pengaturan gelombang hampir identik dengan EUR/USD. Hingga 28 Februari, kami mengamati pembentukan struktur korektif yang meyakinkan dan tidak menimbulkan kekhawatiran. Namun

Chin Zhao 18:51 2025-05-21 UTC+2

Analisis GBP/USD pada 20 Mei 2025

Pola wave untuk GBP/USD terus menunjukkan pembentukan struktur wave impulsif bullish, berkat Donald Trump. Gambaran wave ini hampir identik dengan pasangan EUR/USD. Hingga 28 Februari, kami mengamati perkembangan struktur korektif

Chin Zhao 19:47 2025-05-20 UTC+2

Analisis EUR/USD pada 20 Mei 2025

Struktur gelombang pada grafik 4 jam EUR/USD telah berubah menjadi bullish dan terus mempertahankan bentuk tersebut. Saya yakin tidak ada keraguan bahwa transformasi ini terjadi semata-mata karena kebijakan perdagangan baru

Chin Zhao 19:40 2025-05-20 UTC+2

Analisis EUR/USD pada 19 Mei 2025

Pola wave pada grafik 4 jam telah berubah menjadi struktur bullish dan tetap demikian. Saya yakin bahwa transformasi ini terjadi semata-mata karena kebijakan perdagangan baru AS. Hingga 28 Februari, ketika

Chin Zhao 18:26 2025-05-19 UTC+2

Prediksi Mingguan Menggunakan Analisis Gelombang Sederhana untuk GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/GBP, dan Indeks Dolar AS pada 19 Mei

GBP/USD Analisis: Sejak 8 April, GBP/USD telah bergerak naik pada grafik harga. Dari batas bawah zona potensi pembalikan, koreksi balik telah terbentuk selama dua bulan terakhir. Kenaikan dari

Isabel Clark 11:43 2025-05-19 UTC+2

Prediksi Mingguan Menggunakan Simplified Wave Analysis untuk EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, dan Emas pada 19 Mei

EUR/USD Analisis: Sejak Februari, grafik EUR/USD telah membentuk wave naik. Selama satu setengah bulan terakhir, segmen korektif (B) telah berkembang dalam wave ini, yang masih belum selesai. Seminggu yang lalu

Isabel Clark 11:40 2025-05-19 UTC+2

Analisis GBP/USD pada 16 Mei 2025

Struktur gelombang untuk instrumen GBP/USD terus menunjukkan pembentukan rangkaian gelombang impulsif bullish. "Berkat" Donald Trump, pola gelombang ini sangat mirip dengan EUR/USD. Hingga 28 Februari, kami mengamati perkembangan struktur korektif

Chin Zhao 18:43 2025-05-16 UTC+2

Analisis EUR/USD pada 16 Mei 2025

Struktur wave pada grafik 4 jam untuk pasangan EUR/USD telah berubah menjadi naik dan terus mempertahankan formasi ini. Saya yakin bahwa transformasi ini terjadi semata-mata karena kebijakan perdagangan baru

Chin Zhao 18:40 2025-05-16 UTC+2
Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.