GBP/USD: Elliott waves (Feb. 3)
Daily. The pair keeps forming the wave B which represents a global wave plane. At the moment, we are seeing construction of the final impulse [c].
Chart. Daily GBP/USD
H4. Here’s the detailed layout of the impulse [C]. The pair began construction of a correctional wave (IV).
Chart. H4 GBP/USD
H1. It’s not clear what shape will the wave (IV) take, but we may assume, judging by the beginning of it, it will take form of a double Zigzag. We can even see the corrective decline within this wave in the next 2 weeks.
Chart. H1 GBP/USD
Roman Petuchov for FBS