Elliott Wave Analysis: GBP/USD In A Three-Wave Bear Move

 | Jun 15, 2020 09:29AM ET

GBP/USD has five visible waves from the lows at 1.207, suggesting that a wave C of a higher degree is now complete. The latest steep decline from the 1.281 level may be part of a minimum three-wave reversal. That said, be aware of temporary pullbacks on the way. A break of 1.249 would confirm a bearish continuation.