anilmangal
Long

GBPUSD in a 240 correction

FX:GBPUSD   British Pound/U.S. Dollar
7552 41 208
This pair is in a consolidation so if it breaks to the up side I will be buying . If you have a tested strategy on how to trade these type of pattern then it's a nice trade.

Trade with care
Thank for your support
Comment:
snapshot
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Hi Anil,

I'm a huge fan of your work and am an analyst myself specializing in elliott wave structure for banks and hedge funds. Regarding your analysis on GBPUSD, the elliott structure we're looking at sees massive resistance at the 1.4640 level (massive fractal resistance) and is a possible corrective irregular wave 4 of the current move.

I am actually confident that we will see an abc correction up to at least 1.4640 but to play to 1.4950+ is quite a bold move. Again, I respect your analysis and would like to know your thoughts on this idea we've been sending to some of our hedge fund clients :

The Definitive Elliott Wave Structure for GBPUSD (Daily TF)
Reply
anilmangal PRO theforexarmy
Hi thank you for sharing. I am not counting this structure as a 1,2,3,4,5 motive structure. Join me today in my webinar @9 am NY time . I will be looking at this chart on the higher time frame.
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And now.. It was correction or downtrend?
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Manic.Nick Manic.Nick
I think we will see 1.3850 soon
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Manic.Nick Manic.Nick
...Or 1.4340 after 1.4030-1.4060. Ok, we will wait ) Thanks for analisys, Anil.
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i hope GBP/USD Up Trend

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Hi! Thx for chart,Anil !!
When you spend the next free webinar??
you give usefull advice!
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Do you think it is likely that Pound will gain strength next week?
Reply
Monthly looks tasty
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