GBP/USD Faces Resistance Around 61.8% Fibonacci Level
Gregor Horvat | Jun 11, 2015 04:19AM ET
Cable is again recovering after unsuccessful break to a new swing low on Friday. As such, correction is probably still unfolding that can be looking for a top around 1.5500, near current 61.8% Fibo retracement level. However, bearish reversal is needed to confirm a coming weakness, so keep an eye on 1.5374, where overlap will open door for 1.5100.
GBP/USD 4h Elliott Wave Analysis
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