Elliott Wave Analysis: GBPUSD Looks 1.6470 Before Turning Down
Seeking Alpha Analyst Since 2010
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GBPUSD reversed nicely from 1.6600 high where pair completed an ending diagonal pattern in wave (v) as expected. Pair fell through the lower trendline of the pattern that now puts pair in bearish mode but it seems that pair could stay sideways for few more sessions and test 1.6470 area before market turns down again. Notice that we are tracking wave (ii) at the moment which can form an irregular correction.
GBPUSD 4h Elliott Wave Analysis
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