Euro

EUR/GBP points down

Gregor Horvat
February 18, 2016 10:54 AM
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GBP/USD

We talked about GBP/USD yesterday and highlighted that current weakness can stop around 1.4200-1.4250, as we can see five sub-waves in wave C that belong to a three wave movement from 1.4667. That said, higher prices would not be a surprise now or for another three waves of recovery, but this time up in wave C), back to around 1.4500.

 


GBP/USD - 1hr

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About the Author

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/