GBPJPY #GJ
gpbjpy idea using elliot wave and fib retracement so we will be trading a small retracement then continue with the wave
As of December 30, 2024, the GBP/JPY currency pair is exhibiting a bullish trend, according to Elliott Wave analysis. The short-term Elliott Wave sequence from the low on August 5, 2024, indicates a bullish progression, suggesting the potential for further appreciation.
ActionForex
In this context, the rally from the August 5 low appears to be unfolding as an impulsive wave, characterized by five distinct sub-waves moving in the direction of the prevailing trend. This pattern typically signifies a strong and sustained upward movement.
It's important to note that Elliott Wave analysis is inherently interpretative and can vary among analysts. Therefore, it's advisable to consider multiple perspectives and incorporate other technical and fundamental analyses when making trading decisions.
As of December 30, 2024, the GBP/JPY currency pair is exhibiting a bullish trend, according to Elliott Wave analysis. The short-term Elliott Wave sequence from the low on August 5, 2024, indicates a bullish progression, suggesting the potential for further appreciation.
ActionForex
In this context, the rally from the August 5 low appears to be unfolding as an impulsive wave, characterized by five distinct sub-waves moving in the direction of the prevailing trend. This pattern typically signifies a strong and sustained upward movement.
It's important to note that Elliott Wave analysis is inherently interpretative and can vary among analysts. Therefore, it's advisable to consider multiple perspectives and incorporate other technical and fundamental analyses when making trading decisions.
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