Elliott wave Analysis: EURUSD and GBPUSD Looking Higher

Gregor Horvat Wavetraders

On some major dollar pairs we see the US currency coming under pressure especially against EUR, GBP and JPY. EURUSD is unfolding an impulsive move away from 1.2300 area where we identified an important Fib. support. We see room for more upside into 1.2440-1.2480 area, while market is above 1.2340.

EURUSD, 30Min

Cable is also bullish still, now making possible five wave substructure from 1.4145 up towards 1.4400 area.

GBPUSD, 1h

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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