GBPUSD upside potential
Following a prolonged complex correction, GBPUSD has resumed the upward trend based on Elliott five waves principle.
End of wave 1 stood at 1.263 in Mid April. Wave 2 went all the way done to 1.209, and ended in Mid May. Since then cable gained interesting momentum and price action approached wave 1 high. Currently, there might be a correction that can drag price back into the 1.24 territory. However, the overall outlook is bullish with longer term objective eyeing areas above 1.28, when plotting Fibonacci Extension on wave 1 and 2.
End of wave 1 stood at 1.263 in Mid April. Wave 2 went all the way done to 1.209, and ended in Mid May. Since then cable gained interesting momentum and price action approached wave 1 high. Currently, there might be a correction that can drag price back into the 1.24 territory. However, the overall outlook is bullish with longer term objective eyeing areas above 1.28, when plotting Fibonacci Extension on wave 1 and 2.
Clause de non-responsabilité
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.