GBPUSD Elliott Wave Analysis: Correction Within Downtrend

GBP has recovered against the USD but not for long. We still see only three wave rally from the low as shown on the updated count. As such, bearish waves should not be ignored yet, especially as wave C seems like completed rally around 1.5825. Further weakness is expected, but would love to see a break beneath the channel line to confirm new impulsive weakness in progress.

GBPUSD 4h Elliott Wave Analysis

Written by www.ew-forecast.com

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