Elliott Wave: GBP/USD Turning Higher

GBP/USD is making a sharp rally higher, which we identified it as a bigger wave C), that is part of a three wave rally. Specifically we see price trading now in minor wave 3, that can extend its gains towards the Fibonacci ratio of 261.8 in sessions ahead. Ideally, once wave 3 finds a top a new three wave reversal lower into wave 4 will follow.

1-Hour 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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