Seeking Alpha

ew-forecast.com's  Instablog

ew-forecast.com
Send Message
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
My company:
ew-forecast
My blog:
Elliott Wave Analysis Service
  • GBPUSD Elliott Wave Analysis: Corrective Retracement From 1.6995 0 comments
    Jun 9, 2014 4:04 AM

    GBPUSD traded higher last week and made an overlap with 1.6810 which means that any bearish impulse wave count has been invalidated. As such, we are now observing a new, bullish interpretation because reversal from around 1.6995 can be counted as a double zigzag. Notice that price also found a support a week back around the lower support line of a trading channel. This usually occurs at the end of a corrective move, so if we see a rally back above the upper channel resistance line we should seriously consider the bullish case. However, a break and daily close above the upper trend line is needed to confirm further strength.

    GBPUSD 4h Elliott Wave Analysis

    Interested in our analysis? Get now 1 month of full service for just 1€. http://www.ew-forecast.com/service

    Themes: Pound, GBP, USD
Back To ew-forecast.com's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • Another Bearish Turn Can Be Coming coming on Aussie http://goo.gl/3rK8FC
    about 11 hours ago
  • DAX two similar legs down... be aware of a bounce in days ahead... http://t.co/4eX9XcF1P8
    4 days ago
  • Webinar today at 12.00GMT. We will cover FX pairs, GOLD, OIL, S&P500, DAX. REGISTER HERE: >>>> http://t.co/8mRMvSzyGo
    Apr 22, 2015
More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.