GBPJPY Looking To Extend Higher In Impulsive Structure
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Cycle from 12.14.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 12.14.2023 low, wave (1) ended at 188.93 and pullback in wave (2) ended at 18522. Internal subdivision of wave (2) unfolded as a zigzag structure. Down from wave (1), wave A ended at 187.1, wave B ended at 188.56, and wave C lower ended at 185.22 which completed wave (2). Pair then rallied higher in wave (3). Up from wave (2), wave ((i)) ended at 187.73 and pullback in wave ((ii)) ended at 186.15.
Pair resumes higher from wave ((ii)). Up from there, wave (i) ended at 186.78 and wave (ii) ended at 186.16. Wave (iii) higher ended at 188.48, wave (iv) ended at 188.21 and wave (v) ended at 188.86 which completed wave ((iii)). Pullback in wave ((iv)) ended at 187.84. Pair has resumed higher in wave ((v)). Near term, as far as pivot at 185.22 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
GBPJPY 1 Hour Elliott Wave Chart
GBPJPY Elliott Wave Video
Video Length: 00:04:05
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