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We are providing technical analyzes for the financial markets and how they behave based on the Elliott Wave Principle. The Elliott Wave Principle gives you a method for identifying at what points a market is most likely to turn. And that, in turn, gives you guidance as to where you might enter... More
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  • GBPUSD Could Turn Bearish This Week 0 comments
    Apr 22, 2013 5:24 AM

    GBPUSD has extended higher in the last two weeks after broken trend-line connected from above 1.6300. As such, we labeled recent big fall as a completed five wave fall in wave I, followed by a corrective bounce which we think its wave II. With that said, recovery from the lows is just temporary so we must be aware of a new sell-off once pair breaks through the lower support line of a corrective channel. Close somewhere around 1.5050 or lower would suggest that rally is done and weakness underway.

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