GBPUSD Elliott Wave Forex 1 + 4 hr - 22 March 2019
Gbp/Usd 1 Hour Chart
Thursday, 21 March 2019 at 14:29:00 GMT
Cable can be trading in a wave B triangle after that slow price action and choppy corrective structure, so still more upside in view within the final leg towards 1.34-1.35 before a bearish reversal. But, any impulsive decline back below 1.3000 would mean that bears are here!
Gbp/Usd 4 Hour Chart
Friday, 22 March 2019 at 7:57:00 GMT
GBPUSD can be trading in a big EW ending diagonal within higher degree wave C, with current turn down representing corrective sub-wave 4) in play. Support and a bounce for final wave 5) can be seen around the lower EW ending diagonal line, where price can again turn higher.
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Elliott degrees in order: Grand Super cycle wave, Super cycle wave, Cycle wave, Primary wave, Intermediate wave, Minor wave, Minute wave, Minuette wave and Subminuette wave.
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