Elliott wave Analysis: GBPUSD Intra-day Development

Hi traders,

GBPUSD is slowly turning to the upside, however we believe a temporary three-wave correction is in play rather then a new change in trend. We can see that from 1.3173 level price dropped in five waves, meaning current rally can be its three-wave correction. In that case, we believe a temporary three-wave A-B-C pullback will unfold, which can later look for resistance and a reversal near the 1.307/1.3100 region, where former swing high and various Fibonacci ratios can slow price down.




Interested in active FX Elliott Wave labeled charts on a daily basis. Now its your time; we have Limited Offer; get a 14 day trial for 1€.
Check our website www.ew-forecast.com for more details.

By using www.ew-forecast.com website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.ew-forecast.com are provided for informational and educational purposes only!

By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.