GBPUSD Elliott Wave Forex 1 + 4 hr - 26 July 2019
Gbp/Usd 1 Hour Chart
Thursday, 25 July 2019 at 08:30 GMT
Cable saw some nice recovery from 78.6% Fib level which can be beginning for a higher price within wave C that may see 1.2558 breakout still. In the meantime we have to keep an eye on 1.2410 level; break below it will likely suggests more weakness.
Gbp/Usd 4 Hour Chart
Friday, 26 July 2019 at 07:01 GMT
GBPUSD is coming down again, now testing the previous swing support so looks like wave B is more complex and longer in time than we thought. But for now, pair is still above 1.2380 so as long that's the case we think that wave 4) will be ongoing, either in three waves for a zigzag, or maybe even a triangle if pair stays sideways till end of July.
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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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