Trader, analyst and instructor with a 6-year experience

GBP/USD: Elliott waves

By Roman Petuchov

Weekly. The pair keeps rising in the impulse wave [c] of B. This wave is probably close to an end.

Daily. We are seeing a decline in the wave (v). It’s now important to determine where this wave will end as after that there will be a global reversal to the downside.

H4. The wave 3 was completely equipped with the waves of the junior level. This week the pair will form corrective wave 4. The approximate limit of the move is shown at the picture. When this wave is over, the pair will start forming an upward impulse 5.

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