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

GBPUSD Elliot Waves Analysis For 20 July 2016

20 July 2016, GBP/USD

GBPUSD Elliot Waves Analysis For 20 July 2016

Wave Analysis

GBP/USD is currently trading with a bearish bias. Yesterday, the pair traded short as previously forecasted and is still pretty much bearish. During this intraday, we expect a possible bearish price rally but should not go beyond 1.290. A breakout below this target support will culminate into further bearish price rally. This pair should be traded alongside GBP/JPY, GBP/CHF, EUR/USD, AUD/USD and NZD/USD. These pairs have a strong positive correlation of up to +0.86 and will have similar price action during this intraday.

Trade Recommendations:

Remain short with an ideal target at 1.290.

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 .