manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
QIWIInstant top-up
Log in

GBPUSD Elliot Waves Analysis For 4 February 2016

04 February 2016, GBP/USD

GBPUSD Elliot Waves Analysis For 4 February 2016
Wave Analysis:
GBP/USD is currently trading with a bullish bias. During the previous trading day, pound traded long and even hit a major resistant level 1.461. At the moment, we will only be keen to buy above 1.465 with our target at 1.4814. A close below 1.454 would mean we are headed short but with our target at 1.4402. Pound dollar should be traded alongside Euro dollar, and New Zealand Dollar. These pairs have a strong positive correlation of up to +0.79 and are thus expected to move in a similar direction. Only buy or sell Pound if all the other positively correlated pairs are giving the same signal.

Trade Recommendation:

Buy above 1.465 with your target at 1.4814. Sell below 1.454 with your target at 1.4402

Graham Osano
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.