GBPUSD Could Make Correction Before Uptrend Resumes

GBPUSD broke sharply to the upside last week with a clear personality of a wave three within a five wave move in wave C). We see pair going higher now, above 1.7000 to complete wave (5). This fifth wave should be made by three legs as we are tracking an ending diagonal on a daily chart, so upside can be limited around 1.7100. At the moment we expect a corrective pullback in black wave 4 down to 1.6900/1.6920 before uptrend resumes.

GBPUSD 4h Elliott Wave Analysis

Written by www.ew-forecast.com

Check our service at Fxstreet.com 

Views: 135

Tags: elliott-wave, forex-trading, gbp/usd, gbpusd

Comment

You need to be a member of Forex Social Network to add comments!

Members

Join us on Facebook Now!!!

Hi everyone

This website was closed June 2nd 2015.

Please, join us now at Facebook where you can keep sharing your thoughts about Forex with our community of traders:

https://www.facebook.com/superfxnews

OVER 2,500 READERS!!!!

© 2015   Created by FXStreet.

Badges  |  Report an Issue  |  Terms of Service

Offline

Live Video