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GBP/USD Uptrend Looks Tired – Elliott Wave

GBP/USD (4-hour chart) – The pound was one of the weakest currencies out there in recent trading sessions and days, but not against the US dollar. The pair regained after the market formed only a corrective decline from 1.6015 down to 1.5752 region, which suggests that a blue wave (NYSE:B) shown from 1.5290 August low is still unfolding. Overall, the price structure from wave (NYSE:A) low is very choppy, slow and has formed a lot of overlaps, which is a clear personality of a correction. For more GBP/USD forex technical analysis, please click here.