• 8 hours Bezos Is Heading To Space This Sunday
  • 3 days El Salvador’s Surprise Bitcoin Move
  • 6 days Markets Unfazed As Inflation Hits 13-Year High
  • 7 days How the Token Economy is Disrupting Financial Markets
  • 9 days FBI Investigating 100 Types Of Ransomware Attacks
  • 11 days Fed Ends Corporate Credit Emergency Lending Program
  • 13 days AMC Becomes the Latest Winning Meme Stock After GameStop
  • 15 days The Real Reason Your 401k Has Been Lagging
  • 15 days China Lifts Cap On Births, Allows Three Children Per Couple
  • 17 days The Market Is Ripe For Another GameStop Saga
  • 20 days Senate Grills Big Banks Over Pandemic Opportunism
  • 22 days Cannabis Has A Major Cash Problem
  • 22 days Ransomware Netted Criminals $350M In 2020 Alone
  • 23 days Russia Is Taking On Google
  • 24 days Chinese Regulators Deal Another Big Blow To Bitcoin
  • 25 days Ohio Residents Brave Vaccine for Chance To Win $1M
  • 27 days Inflation Is Coming. Are You Prepared?
  • 28 days Travel Might Get Another Supersonic Disruption
  • 29 days The World Is Running Out Of 6 Key Resources
  • 30 days $15/Hour Minimum Wage Might Happen Naturally
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

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…

Gregor Horvat

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…

Contact Author

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: SP500 and GBPUSD

S&P500

Stocks appears to be in a very nice bullish mode, at least on intraday chart with that five-wave rally from 2321 low that should be part of a bigger cycle. As such, we will look for more upside in the next few sessions, but first we still think that a)-b)-c) set-back can see deeper levels. Ideally support will be found near 2340 area.

S&P500, 1H

S&P500 1-Hour Chart


GBPUSD

Cable has seen a nice intraday move up to 1.2472 which appears to be a spike that completed wave four at resistance. As such, we will stick with bearish view for a fifth wave of a decline to around 1.2340/50 area. After that, be aware of a new turn up for a wave "b" correction

GBPUSD, 1H

GBP/USD 1-Hour Chart

 


Visit our website and Get more charts and forecasts with free access through 14-Day Trial Offer
You can also follow us on twitter @ewforecast
www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment