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HomeContributorsTechnical AnalysisGBPUSD Eyeing 1.2280 Support

GBPUSD Eyeing 1.2280 Support

Elliott Wave Financial Service
By Elliott Wave Financial Service

Cable is making a five wave drop from 1.2580 area, out of an upward channel so top is in place, but only temporary one for wave A). Keep in mind that we are tracking a corrective set-back now in red wave B) that may be looking for a push down to 1.2280 where price may stabilize after an A-B-C cycle.

GBPUSD, 1h

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