Forex Trading: Elliott Wave Analysis On GBPUSD


GBPUSD Moved higher yesterday, even slightly above the level of 1.4510, which means that the recovery since late February is not a triangle, but step three wave. However, it is still corrective black wave IV, which in fact may complete an anti orientation step in early than we thought, but at higher levels. We follow the wave C flew now, which can be made diagonal end that can occur higher then about 1.4610 to 1.4710 area. But we will have to wait on a downward reversal rush before any "sumit in place" can be confirmed.


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