Trader, analyst and instructor with a 6-year experience

GBP/USD: Elliot wave analysis

Weekly.  GBP/USD may have completed the construction of the wave [II]. In the near future a new trend may start.

Chart. Weekly GBP/USD

Daily. The construction of the wave [1] is close to an end. When it’s over, the pair will start forming upward corrective wave [2].

Chart. Daily GBP/USD

H4.  The layout of the downward impulse wave [1] is shown at the picture. In the near future we’ll see the completion of the wave 5 of (5) of [1]. Then pound will begin a corrective movement upwards. The approximate trajectory of the wave is represented at the chart.

Chart. H4 GBP/USD

Roman Petuchov for FX BAZOOKA

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