GBP/USD Looks More Bearish
Gregor Horvat | Jun 02, 2015 05:37AM ET
GBP/USD broke lower so we see wave 2/B as completed at 1.5690 from where pair fell sharply down into C or 3 that already reached our minimum expected zone near 1.5350, but ideally market will fall further after any pullback. Ideally we will see 3 moving towards 1.5000/1.5100 this week. The reason for a bearish view are three waves up from April lows, clearly visible on a daily chart which means that big trend is still down.
GBP/USD 4h Elliott Wave Analysis
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