GBPUSD Elliot Waves Analysis For 27 June 2016 | 27 Junho 2016

GBP/USD is currently trading with a bearish bias. During the previous trading day on 24th June 2016, the cable reacted negatively to Brexit, headed bearish and may head further to the lower side. Earlier today, the pair gapped down into our objective support 1.3375 but could not close below it. We are waiting for a clear breakout below 1.3347 to go short while as long as the pair trades above 1.3375, we expect an acceleration to the upper side. This pair should be traded alongside GBP/JPY, GBP/CHF, NZD/USD, AUD/USD, and GBP/HKD. These pairs have a strong positive correlation of up to +0.90 and will have a similar price action during this intraday.