GBP/USD Elliott Wave analysis: Seems bullish above 1.36

Gregor Horvat Wavetraders

Cable GBPUSD found support at the technical level; at the lower side of a triangle range . A jump in price came after hawkish BOE yesterday which lifts optimism for the currency as they warned about higher inflation.

Pair came up in impulsive fashion and it's now pointing to a higher price, even if just a short-term rally for a three-wave move back to the upper side of a range. In either case, we think there is a chance for further strength while pair trades above 1.36.

GBP/USD 4h Elliott Wave analysis chart

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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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