manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Close
Log in

GBPUSD Elliot Waves Analysis For 4 July 2016

04 July 2016, GBP/USD

Wave Analysis:
GBP/USD is currently trading with a bearish bias. This pair continues to make lower lows even as gold and EUR/GBP make higher highs. During this intraday, we still expect further bearish price movements towards 1.3226. A break below this target will lead to a momentum to the lower side while a clear rebound from 1.3226 will lead to a possible reversal to the upper side. This pair should be traded alongside GBP/JPY, EUR/USD, and AUD/USD . These pairs have a strong positive correlation of up to +0.92 and will have a similar price action during this intraday.

Trade Recommendations:

Remain short but only up to 1.3226. Alternatively wait and sell upon a clear breakout below 1.31126

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

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .