Cable was trading lower early last week, when pair touched channel support and then sharply reversed to the upside. This usually occurs in a corrective-contra-trend price action. In fact, a decline since mid-June is clearly in three waves and now the bounce from 1.5389 also looks impulsive so looking for higher levels at this stage makes sense. GBP USD Elliott Wave Analysis – Click image to enlarge With this being said, further strenght in this market is expected, with a break through falling trend-line that will cause acceleration to 1.5800 in coming days. Special Offer available now for new members: 7 day trial for no-cost Guest Guest View All Post By Guest Opinions share Read Next In Bernanke’s court FxPro - Forex Broker 10 years Cable was trading lower early last week, when pair touched channel support and then sharply reversed to the upside. This usually occurs in a corrective-contra-trend price action. In fact, a decline since mid-June is clearly in three waves and now the bounce from 1.5389 also looks impulsive so looking for higher levels at this stage makes sense. [caption id="attachment_36812" align="alignright" width="400"] GBP USD Elliott Wave Analysis - Click image to enlarge[/caption] With this being said, further strenght in this market is expected, with a break through falling trend-line that will cause acceleration to 1.5800 in coming days. Special Offer available… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
