Short-term Elliott Wave view in GBPUSD suggests that a decline to $1.3160 low ended the cycle from October 20, 2021 peak in wave (A). Up from there, the pair is correcting that cycle in wave (B) bounce. The internals of that bounce is unfolding as Elliott wave flat correction with the sub-division of 3-3-5 structure before downtrend resume again. While the initial bounce in wave A unfolded as a lesser degree zigzag structure. Whereas the initial bounce to $1.3283 high ended wave ((a)). Wave ((b)) ended at $1.3169 low and wave ((c)) ended at $1.3375 high.
Down from there, the pair declined in another 3 swings within wave B where wave ((a)) ended at a $1.3300 low. Wave ((b)) ended at $1.3339 high and wave ((c)) ended at $1.3170 low. Since then, the pair has started the C leg in an impulse sequence. Near-term, as far as dips remain above $1.3170 low the pair is expected to reach $1.3389- $1.3513 blue box area. From there, the next leg lower is expected to take place looking for more downside ideally. Or the pair should fail lower for a 3 wave pullback at least.
GBP/USD 1 hour Elliott Wave chart
GBP/USD Elliott Wave video
FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.
Follow us on Telegram
Stay updated of all the news
EUR/USD continues to trade in positive territory above 1.0700
EUR/USD has managed to stay in positive territory above 1.0700 despite having retreated modestly in the early American session. ECB President Lagarde reiterated that inflation in the Eurozone is projected to remain too high for too long, helping the Euro keep its footing.
Gold falls below $1,980 as US yields rebound
Gold price has turned south and dropped below $1,980 after having rallied to a fresh multi-month high of $2,010 earlier in the day. The 10-year US Treasury bond yield has turned positive on the day near 3.5% following the sharp decline seen in the European session and weighed on XAU/USD.
GBP/USD rises to fresh multi-week highs above 1.2250
GBP/USD has gathered bullish momentum and advanced to its highest level since mid-February above 1.2250 on Monday. The US Dollar struggles to find demand following a mixed opening in Wall Street and allows the pair to cling to its daily gains.
Bitcoin price primed to revisit $33,000 as global market turmoil rages on
Bitcoin (BTC) price is rallying in a full recovery story after a harsh and long crypto winter through most of 2022. It looks inevitable that BTC will soon take out $30,000 and march higher.
UBS ends Credit Suisse Crisis with $3.25 billion buyout, CS stock purchased for 0.76 CHF
CS is no more. Over the weekend the Swiss National Bank organized a buyout of the struggling bank by the only other Swiss lending giant – UBS.