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20 Apr 2015
GBP/USD remains bearish within the downward channel – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, shares the outlook for GBP/USD using Elliott wave analysis, further warning of a potential new turn lower later this month.
Key Quotes
“Cable is turning sharply higher from its lows but price remains trapped in a downward channel so trend is considered as bearish.”
“That said, current rally from mid-March can be irregular correction in wave (4) that can stop at the upper trendline, so be aware of a new turn down later this month.”
Key Quotes
“Cable is turning sharply higher from its lows but price remains trapped in a downward channel so trend is considered as bearish.”
“That said, current rally from mid-March can be irregular correction in wave (4) that can stop at the upper trendline, so be aware of a new turn down later this month.”