USDCHF is sideways slow and choppy so we know that move from July 20 is corrective, the only question is what is the pattern. Well, it can be a flat correction if we consider three waves down in A followed by a three waves up in B last week, and now very sharp fall which can be an impulsive wave C. So if we are correct, then lows around 0.9525 will be retested because market may turn sharply to the upside for 0.9650 again.
USDCHF 1h Elliott Wave Analysis
usdchf ellitott wave
Cable is recovery from 1.5465 after five waves down so current upward reaction can be structured by three waves. We see now wave C in play which can reach 1.5570/1.5600 area where traders should be aware of a new bearish turn. Invalidation level remains at 1.5670.
GBPUSD 1h Elliott Wave Analysis

gbpusd elliott wave


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