GBP/USD: More Gains After The Pullback
Gregor Horvat | Jun 18, 2014 06:46AM ET
GBP/USD broke sharply to the upside last week with a clear personality of a wave three within a five wave move in wave C). We see pair going higher now, above 1.7000 to complete wave (5). This fifth wave should be made by three legs as we are tracking an ending diagonal on a daily chart, so upside can be limited around 1.7100. At the moment we are looking at a corrective pullback in black wave 4 that may stop at 1.6900/1.6920 before uptrend resumes.
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