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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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Elliott Wave Analysis Service
  • Elliott Wave Forecast For GBPUSD: Completed Recovery Is Pointing To 1.4800 0 comments
    Jul 2, 2013 5:34 AM

    On GBPUSD we can see impulsive bearish reversal from 1.5750 high so we suspect that wave II rally from 1.4830 is complete. The reason is a structure from that low which cannot be counted impulsively; therefore we think it was corrective move, double zig-zag that is now pointing for weaker GBP, back to 1.4800.

    GBPUSD Daily

    (click to enlarge)

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