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Elliott Wave Analysis: GBPUSD Update

Elliott Wave Financial Service
By Elliott Wave Financial Service

If you are bearish USD for the mid-term view, then cable can be one your watch-list since it has a very strong recovery from COt 30 low. I see an impulse in progress so more upside after a pullback will be expected. I will definitely be looking for wave 2 for possible longs, ideally from around 1.2900 area… if we get there. Short-term resistance is at 1.3060-1.3130.

GBPUSD, 1h

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
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