GBPUSD Elliot Waves Analysis For 8 Dec 2015 | 08 December 2015
08 December 2015, GBP/USD
Wave Analysis:
GBP/USD is currently trading with a bearish bias. the pair traded short as previous forecasted but wave (5) is yet to reach our target, the green support trend line. We are waiting for a close just below 1.5026 to confirm the continuation of the downward trend. This pair is strongly positively correlated to GBP/HKD, and is strongly negative correlated to USD/CHF, therefore, only buy/ sell when pounds is giving the same signal. And only sell or buy when USD/CHF is giving the exact opposite signal.
Trade Recommendation:
Wait for a close just below 1.5026, then sell with target below 1.4893.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
