Elliott Wave Analysis: Intra-Day GBP/USD

Regarding bullish USD set-ups there are not a lot of pairs to track, but cable however is still on our list. We are observing potential final stages of an extended black wave C, which must give us signs of a reversal soon to support the bearish case. We are waiting on an impulsive drop, ideally back below 1.2979 to confirm a resumption of a downtrend.

GBP/USD, 1H

GBP/USD

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.

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