GBP/USD daily outlook: Most likely to see lower prices in the correction

Elizabeth Nersesian HarmonicEquilibriumRouting

The analysis is based on Harmonic Elliott Wave and H.E.R (Harmonic Equilibrium Routing)

Daily outlook

(30 Minutes Chart)

if we look at 4-hours or daily chart we'll find out the price is on wave -b- of wave (iii).

i suppose the correction isn't completed yet, and we'll might see lower levels for the GBP/USD. as it's shown in the chart below, the correction is on wave (c), and wave -iii- of (c) has more way down.

1.38331 (MP): wave c is able to see the level then starts its down-trend. (node BS: Versa Cluster).
1.38159 (BP): price touched the level and might start wave c of iii from now. (node 2W: Pre-Cluster).
1.38653: if price breaks the level, the analysis will be failed.

Author

Elizabeth Nersesian

HarmonicEquilibriumRouting

Elizabeth Nersesian is a Russian/Iranian technical analyst and trader which started her early experience in 2014 in Forex Market.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.