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GBPUSD Elliot Waves Analysis For 24 June 2016

24 June 2016, GBP/USD

GBPUSD Elliot Waves Analysis For 24 June 2016

Wave Analysis

GBP/USD is currently trading with a strong bearish bias. As previous forecasted, Brexit clearly hurt the British pound, the Cable deprecated to the lows of 1.1322 and may head further to the lower side. Although there may still be downward momentum, we remain flat, unless you are a professional news trader, remain flat for now and wait for clear moves, either to the upper side or the lower side. This pair should be traded alongside GBP/JPY, AUD/USD, AUD/JPY and EUR/USD. These pairs have a strong positive correlation and will have a similar price action during this intraday.

Trade Recommendations:

Remain Flat For now

Graham Osano
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