FOREX Prediction, 2021–01–21 Thursday

GBPUSD:

Let’s take a look at the D1 chart (some Fibonacci’s are hidden to prevent clutter),

As we have been waiting, the final wave (Wave 7) of the UP trend (started in 2020–03–20) is about to end.

Still, the big question is “when and how Wave 7 will end?”

In Generalized Wave Theory, a wave consists of at most SEVEN sub-waves.

Let’s dissect Wave 7 (D1) in the H4 chart (some Fibonacci’s are hidden to prevent clutter) to predict it’s ending,

In the previous prediction, I introduced TWO possible wave-counts for Wave 7 (D1). Either way, the last wave (Sub-Wave 7) of Wave 7 (D1) is forming.

Interestingly, we can dissect Sub-Wave 7 in the H1 chart to predict its ending.

Let’s dissect Sub-Wave 7 (H4) in the H1 chart (some Fibonacci’s are hidden to prevent clutter),

The wave-count above is confirmed by the following Fibonacci’s:

Wave 1 = Wave 3 * 1.618 (Vertically / Price-wise)

Wave 2 = Wave 3 * 0.382 (Horizontally / Time-Wise)

Thus, the market may form FIVE or SEVEN waves in H1 to complete Sub-Wave 7 (H4). Either way, it is getting closer to finish, considering the weak bullish momentum of the market.

Conclusion:

• The market will PLUMMET DOWN VERY SOON. Thus, observe the H1 chart closely and prepare to SELL.
• Start SELLING if the market breaks DOWN the Support 1.3620 and 1.3453.
• If you prefer safe SELL entries, WAIT until the Support 1.3134 is broken DOWN, then SELL.