Elliott Wave Analysis: GBPUSD Aiming For Higher Levels

Gregor Horvat Wavetraders

Cable bounced sharply this week, which has been expected as we saw pair in final stages of a corrective decline in wave B. A reversal to 1.2497 is strong, thus probably an impulse that will take this pair much higher in days ahead, especially after wave two pullback which can be a nice set-back to join the bullish rise for a big wave C up, while market trades above 1.1984 swing low.

GBPUSD, 4H

Author

Gregor Horvat

Wavetraders

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

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