ADP Employment Change. USA, 15:15 (GMT+2)

The ADP Employment Change index is due at 15:15 (GMT+2) in the USA. The index is expected to lower to 190K in February from 246K in the previous month. The index represents employment change in non-agricultural sectors. It is based on data from about 500 thousands companies in the US. A high reading strengthens the USD. A low reading and values below expectations weaken the USD.

ADP Employment Change. USA, 15:15 (GMT+2)
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Analytics
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GBP/USD: wave analysis2017-03-09 08:32 (GMT+2) GBP/USD

The pair can lower.

The upward correction as a wave 4 of the highest level, within which the wave b of 4 is ending, is forming. Locally the downward momentum as a wave (c) of b, within which the fifth wave is forming, is developing. If the assumption is correct, the pair will lower to the level of 1.2100. The level of 1.2180 is critical for this scenario.

Trading scenario

Sell the pair from the correction below the level of 1.2180 with the target at 1.2100.

Alternative scenario

The breakout and the consolidation of the price above the level of 1.2180 will let the pair to grow to the level of 1.2300-1.2476.

Scenario

Timeframe Weekly
Recommendation SELL
Entry Point 1.2155
Take Profit 1.2100
Stop Loss 1.2205
Key Levels 1.2100, 1.2180, 1.2300, 1.2476

Alternative scenario

Recommendation BUY STOP
Entry Point 1.2190
Take Profit 1.2300, 1.2476
Stop Loss 1.2130
Key Levels 1.2100, 1.2180, 1.2300, 1.2476
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