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Elliott Wave Charting: Gbp/Usd Bearish view

TheLFB Trader Advantage Detail

Elliott Wave Charting: Gbp/Usd

The Gbp has been one of the weakest currencies over the past few days, after the pair fell by more than 440 pips. The move was very sharp and extended, and was reversed by upward price action that is still developing. We are looking for a higher red wave 2)/B) to complete somewhere around the 1.5170-1.5200 top, from where a down-trend continuation is expected.

Bears remain in play so long as the pair trades below the 1.5381 top.

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TheLFB GbpTheLFB Charting: Gbp/Usd 4h view

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Disclosure: no pos.