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 carta masa
5
min
15
min
30
min
1
jam
4
jam
1
hari
1
minggu
Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN

Artikel yang dicadangkan

Analisis EUR/USD pada 11 Jun 2025

Struktur gelombang pada carta 4 jam bagi EUR/USD telah beralih kepada formasi menaik dan terus mengekalkan bentuk ini. Saya percaya hampir tiada keraguan bahawa transformasi ini sepenuhnya disebabkan oleh dasar

Chin Zhao 19:00 2025-06-11 UTC+2

Analisis GBP/USD pada 11 Jun 2025

Struktur gelombang untuk GBP/USD terus menunjukkan pembentukan pola gelombang impuls menaik. Gambaran gelombang ini hampir sama dengan EUR/USD. Sehingga 28 Februari, kami melihat pembentukan struktur pembetulan yang jelas yang tidak

Chin Zhao 18:51 2025-06-11 UTC+2

Analisis GBP/USD pada 9 Jun 2025

Bagi pasangan GBP/USD, corak gelombang terus menunjukkan pembentukan struktur gelombang impuls menaik. Corak gelombangnya hampir menyerupai pasangan EUR/USD. Sehingga 28 Februari, kita telah menyaksikan struktur pembetulan yang meyakinkan dan tidak

Chin Zhao 20:16 2025-06-09 UTC+2

Analisis EUR/USD pada 9 Jun 2025

Struktur gelombang pada carta 4 jam EUR/USD telah beralih kepada pembentukan menaik dan terus mengekalkan struktur ini. Saya percaya tidak ada banyak keraguan bahawa transformasi ini berlaku semata-mata kerana dasar

Chin Zhao 20:09 2025-06-09 UTC+2

Analisis EUR/USD pada 5 Jun 2025

Corak gelombang pada carta 4 jam bagi pasangan EUR/USD telah berubah menjadi struktur menaik dan terus mengekalkan formasi ini. Saya percaya tidak banyak keraguan bahawa transformasi ini berlaku semata-mata akibat

Chin Zhao 20:03 2025-06-05 UTC+2

Analisis GBP/USD pada 4 Jun 2025

Corak gelombang bagi pasangan GBP/USD terus menunjukkan pembentukan struktur gelombang impulsif menaik. Gambar rajah gelombang hampir sama dengan pasangan EUR/USD. Sehingga 28 Februari, kita menyaksikan pembentukan struktur pembetulan yang meyakinkan

Chin Zhao 18:48 2025-06-04 UTC+2

Analisis EUR/USD pada 3 Jun 2025

Corak gelombang pada carta 4 jam bagi EUR/USD telah berubah menjadi struktur menaik dan kekal sedemikian. Saya percaya tidak ada keraguan bahawa perubahan ini berlaku semata-mata disebabkan dasar perdagangan baharu

Chin Zhao 19:38 2025-06-03 UTC+2

Analisis GBP/USD pada 3 Jun 2025

Struktur gelombang untuk GBP/USD terus menunjukkan perkembangan corak gelombang impulsif ke atas. Corak gelombang ini hampir sama dengan pasangan EUR/USD. Sehingga 28 Februari, kami menyaksikan pembentukan struktur pembetulan yang meyakinkan

Chin Zhao 19:32 2025-06-03 UTC+2

Analisis EUR/USD pada 2 Jun 2025

Struktur gelombang pada carta 4 jam untuk EUR/USD telah berubah menjadi formasi menaik dan terus mengekalkan bentuk tersebut. Saya percaya tidak ada keraguan bahawa transformasi ini berlaku semata-mata disebabkan dasar

Chin Zhao 19:07 2025-06-02 UTC+2

Analisis GBP/USD pada 2 Jun 2025

Struktur gelombang untuk GBP/USD terus menunjukkan pembentukan corak gelombang impuls kenaikan. Corak gelombang ini cerminan dengan EUR/USD. Hingga 28 Februari, kita menyaksikan pembentukan struktur pembetulan yang meyakinkan dengan sedikit keraguan

Chin Zhao 19:05 2025-06-02 UTC+2
Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget
 

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.