GBPUSD did not go far recently, but remains bullish as the recent decline was made in three waves. Ideally the market will rally today out of a downward channel and towards 1.5700.
GBPUSD 1h Elliott Wave Analysis
We are also tracking a bullish pattern for GBP on GBPJPY which is stuck in a triangle. Ideally the price is still in wave E that will reach the 193.00 area before going up for new high. I would be interested in longs once triangle is complete, ideally early next week.
GBPJPY 4h Elliott Wave Analysis
In our later podcast we discuss predictable currencies vs. unpredictable central banks.