Trader, analyst and instructor with a 6-year experience

GBP/USD: Elliott waves (May 26)

By Roman Petuchov

Weekly. The pair’s forming the ascending impulse wave [c] of B. The most important task for the near future is to determine the point of its end.

Daily. The chart shows the layout of the bullish impulse. At the moment, the pair’s forming the wave (IV), which is a plane wave. This week pair will survive an impulse reduction.

H4. The pair has completed impulse [1] and the correction to it [2]. In the near future we’ll see a decline in the wave [3].


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