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GBP/USD and GBP/JPY Post Referendum Elliott Wave Analysis

Cable came down in the last couple of hours, but as long as the decline from the top is in three legs only, and not in five, we cannot confirm any top in place for the pair. So for now, the intraday trend is up, but we are waiting on bearish reversal signs to be sure. It seems to be too early at this stage.

gbpusd Elliott Wave Analysis September 19 2014 post Scotland referendum No result technical outlook
GBPUSD 30min Elliott Wave Analysis

On JPY crosses, GBPJPY is the mover of the last few sessions after the “NO” vote in the Scottish Independence referendum. On the chart below we see a nice extended move from around 173 that looks like a third wave. So, more gains should follow after any pullback. Ideally we will get a wave 4 retracement back to 177.80 area where new support can be seen for a move up into wave 5.

gbpjpy Elliott Wave Analysis September 19 2014 post Scotland referendum No result technical outlook
GBPJPY 1h Elliott Wave Analysis

Gregor Horvat

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!