Back
2 Mar 2015
GBP/USD might turn bearish in March – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, uses Elliott Wave Analysis to give the technical outlook for the Pound.
Key Quotes
“Cable has recovered very nicely last month, back to 1.5550 which now seems to be a pullback of a higher degree.”
“However, despite a strong recovery we see rally from the low in corrective formation, labeled as (4) that will send GBP back down in March.”
“We anticipate a decline into wave (5) that could reach even 1.4600.”
Key Quotes
“Cable has recovered very nicely last month, back to 1.5550 which now seems to be a pullback of a higher degree.”
“However, despite a strong recovery we see rally from the low in corrective formation, labeled as (4) that will send GBP back down in March.”
“We anticipate a decline into wave (5) that could reach even 1.4600.”