Elliott Wave Analysis: GBP/USD, Silver
Gregor Horvat | Sep 22, 2017 07:40AM ET
Hello traders! Today's focus is on GBP/USD and silver.
GBP/USD is looking bullish after that spike down to 1.3450 that we labeled it as wave 4 flat correction, so be aware of more upside into wave 5; ideally up to 1.3700 next week.
Silver dropped to a new low this week as predicted from a fourth wave pullback with new five subwaves into wave five to 16.80 area. As we know, after every five wave move pullback will occur in three waves, so watch out for a new three wave recovery on silver, back to 17.15 or maybe even higher.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
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