GBP/USD: Elliot wave analysis
Weekly. On the weekly chart we may see the formation of the global Zigzag A-B-C. For now wave C is continuing to unfold targeting $1.1000 last seen in 1985.
Chart. Weekly GBP/USD
H12. The pair may have finished the wave [II] in the form of a Zigzag with a complex corrective wave (b). If this assumption is correct, we’ll soon see a decline in the wave [III].
Chart. H12 GBP/USD
H4. The wave (I) of the descending impulse is close to an end. We’ll probably see the rising corrective wave (II) this week.
Chart. H4 GBP/USD