GBP/USD: Elliot wave analysis
Weekly. On the weekly chart there’s a global Zigzag A-B-C. The pair keeps forming the wave С which aims at the level 1.1 where the pair was last seen in 1985.
Chart. Weekly GBP/USD
H12. The pair has finished forming corrective wave [II] and now we see a decline in the strong wave [III].
Chart. H12 GBP/USD
H4. The decline will surely continue. The prices will likely be falling during the whole week.
Chart. H4 GBP/USD
Roman Petuchov for FBS