GBP/USD: Elliott waves (Dec. 23)
Weekly. The pair keeps rising in the continuing growth in the rising impulse wave [c] of B.
Chart. Weekly GBP/USD
Daily. The pair finished the wave (III), so in the near future expect the formation of the correctional wave (IV). This wave may end in the area between the two horizontal lines as corrective impulse waves tend to end in correctional waves of the lower wave level.
Chart. Daily GBP/USD
H4. The chart shows a detailed layout of the last section. All the waves are proportionate and correct in its structure. Detailed marking the last downward portion isn’t clear yet, but in general, we expect a corrective decline in the near future.
Chart. H4 GBP/USD
Roman Petuchov for FBS