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 and 2 which are the first downside impulse waves inside a big impulse [III]. In the near term we expect a decline in the wave 3 as it’s shown at the picture.
Chart. H4 GBP/USD
Roman Petuchov for FX Bazooka