• 749 days Will The ECB Continue To Hike Rates?
  • 749 days Forbes: Aramco Remains Largest Company In The Middle East
  • 751 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,151 days Could Crypto Overtake Traditional Investment?
  • 1,155 days Americans Still Quitting Jobs At Record Pace
  • 1,157 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,160 days Is The Dollar Too Strong?
  • 1,161 days Big Tech Disappoints Investors on Earnings Calls
  • 1,162 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,163 days China Is Quietly Trying To Distance Itself From Russia
  • 1,164 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,167 days Crypto Investors Won Big In 2021
  • 1,168 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,169 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,171 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,171 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,174 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,175 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,175 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,177 days Are NFTs About To Take Over Gaming?
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

GBPUSD Elliott Wave Forecast: Looks Lower

GBPUSD reversed strongly to the downside on Friday from 1.6667 high where pair is showing signs of a top, even if just temporary. A decline from the high is strong and sharp that has extended through the lower side of a recent upward channel. This bearish reversal suggests that pair is heading even lower, ideally back to 1.6300 in this week.

GBPUSD 4h Elliott Wave Analysis

GBP/USD 4-Hour Chart

On GBPUSD intraday chart we see five waves down from 1.6665 which suggests more GBP weakness after a corrective retracement that is expected to stop at 1.6565/1.6590 resistance zone. Move back beneath 1.6500 will put new low in play.

GBPUSD 1h Elliott Wave Analysis

GBP/USD 1-Hour Chart

 


Written by www.ew-forecast.com
14 days trial just for €1 >> www.ew-forecast.com/register

 

Back to homepage

Leave a comment

Leave a comment