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
Daily. The pair may have finished the upward corrective wave [II]. So, in the near term we expect a decline in the wave [III].
Chart. Daily GBP/USD
H4. The pair has finished the wave 1. We have probably seen the beginning of a corrective rising wave 2. So, in the near term the pair may rise a bit in the wave 2, and then the decline might resume.
Chart. H4 GBP/USD
Roman Petuchov for FBS