Currency Analyst since 2010

GBP/USD: Elliott waves (Apr. 14)

By Roman Petuchov

Weekly. The pair keeps forming the ascending impulse [c], which is part of the wave plane B.

Chart. Weekly GBP/USD

Daily. We are seeing the construction of the correctional wave (IV), which will continue this week.


Chart. Daily GBP/USD

H4. Wave (IV) is taking the form of a Double Zigzag. The pair has began construction of the second Zigzag y of (IV). The pair is expected to decline.


Chart. H4 GBP/USD

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