GBP/USD eyeing above 1.29 bull level - Elliott Wave analysis

Gregor Horvat Wavetraders

Cable is very slow for the last few sessions so we see this move as a correction on the way up; ideally that is a fourth wave triangle that will cause more upside into fifth wave of a wave C. That said, the alternate scenario is showing us a possibility of a corrective wave four of a higher degree, which points higher into a fifth wave from September lows.

GBP/USD, 4h

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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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