TheLFB-Forex.com A Forex Trader Portal
Elliott Wave Charting: Gbp/Usd
New lows were reached on cable within a blue wave (5) after a corrective blue wave (4) completed at the 1.5521 region. The current bear market reached lows at the 1.4475 region, from where a powerful bullish reversal appeared. We can count five waves down from the 1.6875 top, which should put a larger upward corrective move in play. Traders with a Long bias must still be very patient as more down-side price action may come in the near future, if the upper resistance line of an Elliott Wave channel, connected from the wave (2) and (4) top, holds.
Follow Elliott Wave charts and updates on twitter.
If you would like to be a part of TheLFB.com, to receive a full Elliott wave detail for Gbp/Usd (daily and 4h charts) and if you want to know what comes next and what to expect from the market, then join us now.
TheLFB Trader Advantage EA For MT4 Click here
Disclosure: no pos