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 14 July 2016

14 July 2016, GBP/USD

GBPUSD Elliot Waves Analysis For 14 July 2016

Wave Analysis:

GBP/USD is currently trading with a slight bullish bias. During the previous trading day, the cable traded short and ended up forming a possible bearish reversal candle on the daily chart. During this intraday, we anticipate a possible bearish price rally towards 1.3050 or even lower to 1.2797. The current upward rally is a mere retracement and should not close above 1.3344. This pair should be traded alongside GBP/JPY, GBP/CHF, USD/CHF, and AUD/JPY. These pairs have a strong positive correlation of up to +0.92 and will have a similar price action during this intraday.

Trade Recommendation:

Remain short with an ultimate target at 1.3344

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 .