Overview of the currency pair GBP / USD with the current day forecast

The rising wave of the British pound is approaching the logical outcome. In a larger wave model, the plot of the chart since October last year takes the place of correction. The quotations of the pair are approaching the lower boundary of a wide potential reversal zone, strengthened by the level of resistance on a large scale. Given the completeness of the structure of the current wave, the probability of the end of the wave and the trend change at these levels of the graph.

Yesterday's rise significantly brought the price closer to the control level. Today, in the morning, the completion of the ascending spurt is expected. Closer by the end of the day, a change in the mood of the pair's market is expected, with the beginning of a pullback of the price down. The calculated support area will limit the scope of the expected decline.

Boundaries of the resistance zone:

- 1.3190 / 1.3220

Boundaries of the support zone:

- 1.3110 / 1.3080

Overview of the currency pair USD / JPY with the current day forecast

On the chart of the Japanese currency, the price fluctuations of the pair are set by the algorithm of the last upward wave, which began in mid-June. Over the current month, correction is observed, the size of which varies within fairly wide limits. The current support area is the minimum sufficient level at which the downward movement may end. However, yesterday's decline contributed some dissonance to the formed structure of correction, which serves as a strong argument in favor of continuing the current course of the price down. With this option, the preliminary low-end zone is the local April low.

Today, in the first half of the day, the lateral course of oscillations between the nearest opposing zones is most probable. A bull vector is possible. Activation of the bearish course of movement is expected closer to the end of the day or tomorrow.

Boundaries of the resistance zone:

- 111.40 / 70

Boundaries of the support zone:

- 110.70 / 40

- 109.40 / 10

Explanations to the figures: For simplified wave analysis, a simple type of wave is used that combines 3 parts (A; B; C). Of such waves, all kinds of correction are composed and most of the impulses. On each considered time-frame the last, incomplete wave is analyzed.

The zones marked on the graphs are indicated by the calculation areas in which the probability of a change in the direction of motion is significantly increased. Arrows indicate the wave counting according to the technique used by the author. The solid background of the arrows indicates the structure formed, the dotted one indicates the expected wave motion.

Note: The wave algorithm does not take into account the duration of the tool movements in time. The forecast is not a trading signal! To conduct a transaction, you need to confirm the signals used by your trading systems.