The USD is mixed today, down against the EUR, GBP and the AUD, but up against the JPY, while almost unchanged against the CAD and the NZD.
The GBPUSD was up strongly in the last 24 hours, clearly with impulsive structure from the 1.5161 low, so it appears that the bottom is in place. However the shift is temporary, as we track a larger three wave recovery. Currently, we see wave A in final stages, so despite strong upward movement, traders should be aware of a reversal down into wave B corrective pullback. We see technical resistance at 200% Fibonacci extension level that comes in slightly beneath the 1.5400 figure.
GBPUSD 1h Elliott Wave Analysis
GOLD spiked to a new low yesterday, but price quickly returned back into the $10 range, a corrective pause within the ongoing downtrend. We are tracking a triangle in wave (iv) which may complete in the hours ahead. We will not be surprised by a breakdown, later today, during the US trading hours.
GOLD 30min Elliott Wave Analysis
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