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GBPUSD Elliott Wave Forex  1 + 4 hr - 2 May 2019

GBPUSD Elliott Wave Forex 1 + 4 hr - 2 May 2019

Forex-GBPUSD-Elliott...

GBPUSD Elliott Wave Forex  1 + 4 hr - 2 May 2019

Gbp/Usd 1 Hour Chart
Thursday, 02 May 2019 at 07:40 GMT

If there is any pair that suggests more dollar weakness then that's cable where bulls are doing fine, despite recent agressive dollar rise. What I see on cable now is a turn into a corrective set-back, so more upsdie willl be expected after three subwaves. Support is at 1.3000/1.3030.

gbpusd1hr05-02

Gbp/Usd 4 Hour Chart
Thursday, 02 May 2019 at 06:40:00 GMT

No change.
Cable is turning up from the interesting support zone around 1.2860 and breaking the upper trend line of a downward channel which indicates a completed corrective decline, especially if we consider a triangle in the middle of that pullback from March highs. As such, we think that pound can be turning back to the bullish side, maybe even for 1.3400 once again.

gbpusd4hr05-02

 

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