Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Elliott Wave Forecast For GBPUSD: Completed Recovery Is Pointing To 1.4800

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)

Do you like our analysis? You want more? Now it's your time, get our services now for 2 Months for Price of 1.

Click here for 2 FOR 1 offer