Cable fell slightly beneath the psychological 1.6000 level yesterday after a recent tricky expanded flat formation was placed in wave B). However, despite weaker price we think that whole decline from above 1.6330 will prove corrective, which means it’s part of a larger uptrend. GBP USD Elliott Wave Analysis – Click image to enlarge However, on the intra-day basis focus should be for lower levels in the next few sessions with a decline to 1.5950 or even 1.5900 before we may look for a wave C) low and reversal higher. These levels remain in view while 1.6100 resistance is in place. Any push above that resistance will suggest that pair has bottomed. Get more analysis and Elliott Wave forecasts dirrectly from www.ew-forecast.com . Get free access now through 7-Day Trial Offer. You can also follow us on twitter @ewforecast 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! View All Post By Gregor Horvat Forex News Today: Daily Trading News share Read Next Changing Dynamics of FX FxPro - Forex Broker 10 years Cable fell slightly beneath the psychological 1.6000 level yesterday after a recent tricky expanded flat formation was placed in wave B). However, despite weaker price we think that whole decline from above 1.6330 will prove corrective, which means it's part of a larger uptrend. [caption id="attachment_40366" align="alignright" width="350"] GBP USD Elliott Wave Analysis - Click image to enlarge[/caption] However, on the intra-day basis focus should be for lower levels in the next few sessions with a decline to 1.5950 or even 1.5900 before we may look for a wave C) low and reversal higher. These levels remain in view while… 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.
