Forex GBPUSD Elliott Wave News 1 + 4 hr 19 Oct 2018
GBPUSD 1 Hour Chart
Thursday, 18 October 2018 at 5:36:00PM AEST
Regarding dollar bearish view, I think cable (GBPUSD) is still one of the most interesting, more than EURUSD to be honest. EURGBP is bearish so maybe that's the reason. Cable is in wave C) that is now testing the first support area so buyers may not be that far away.
GBPUSD 4 Hour Chart
Friday, 19 October 2018 at 4:49:00PM AEST
Cable can still be trading within a bigger wave II correction, with a second zig-zag in play up from 1.2900 region. That said we see current reversal from the 1.326 level as wave B of a second zig-zag that can look for support near the Fibonacci ratio of 78.6. From there final push up into wave II may follow.
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