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Elliott Wave Analysis: Temporary Correction On GBP/USD Unfolding

Published 11/16/2016, 04:21 AM

GBP/USD has been trading higher recently, with a new leg up from past week to 1.2680 which we called it as wave 5) within a higher degree impulse. That said, a trend change now would not be a surprise, which should be structured by a minimum three wave so another retest of 1.2350-1.2370 area is possible before we may see a strong recovery.

GBP/USD, 4H

GBP/USD 4 Hourly Chart

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