Elliott Wave Analysis On GBPUSD And Silver

By: Gregor Horvat | Thu, Jul 14, 2016
Print Email

GBPUSD

BOE surprised markets with no rate cut so GBPUSD for a moment was trading sharply higher. Now we can count 5 waves from the lows, which means that a possible three wave correction may follow.

The support fort his correction could ideally be around 1.3104, around the formal wave iv.

GBPUSD, 1H

GBP/USD 1-Hour Chart


Silver

Silver is currently trading in a sidways price action, possibly in a triangle which could take place in sessions ahdea. If price trades above the upper triangle line, then the correction in wave 4) would be completed, and more upside would be in the cards.

Silver, 4H

Silver 4-Hour Chart

 


Interested in our services ? We have a Special Offer : Get First 2 Months For The Price Of 1!! Grab the opportunity now at www.ew-forecast.com

 


 

Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

Copyright © 2013-2017 Gregor Horvat

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com