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GBPUSD Looks Higher, GBPJPY Trades Into A Triangle –

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

GBPUSD Elliott Wave Analysis August 14 2015 technical chart for currency trading

 

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

GBPJPY Elliott Wave Analysis August 14 2015 technical chart for currency trading

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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!