Elliott Wave Analysis: GBP/USD Mid-Term Looking Bearish
Gregor Horvat | Jul 11, 2018 10:47AM ET
Cable is finally turning down after a very big but overlapping recovery from 2016 lows. We see that as a big wave IV) that is over based on recent very sharp turn down from 1.4384 area. Move is impulsive which also took out the channel support so we definitely expect more downside, especially after a wave II bounce which can later look for resistance near the 1.3657 area.
GBP/USD, Daily
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