Elliott Wave Forecast Team
ElliottWave-Forecast.com
GBPUSD hit new lows recently at our 261.8% Fibonacci extension level where we predicted a low for wave 3. Well, market turned nicely up in the last 24 hours on the intraday basis so it seems that new correction is now underway. We are looking for a wave 4 bounce that may reach levels around 1.6860 to 1.6890 before downtrend can resume again. In that zone we also see a 382.% retracement level compared to wave three which is ideal reversal level for fourth waves.
GBPUSD 4h Elliott Wave Analysis
GBPUSD 4h Elliott Wave Analysis
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