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Elliott Wave Analysis: EURGBP Unfolding A Big Three Wave Rally

EURGBP is moving nicely and sharply to the upside, which we see it as an impulsive wave c) away from the filled gap zone. We see a nice progression to the upside in the last 24 hours towards wave c)=a) Fib. level but pattern does not seem completed yet, so be aware of slightly more gains after sub-wave iv corrective set-back. But generally speaking, if recovery from April 18 is really going to prove itself as a corrective bounce, then top should be visible by the end of the week.

EURGBP, 1H

EUR/GBP 1-Hour Chart

 


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