GBPUSD: Rebound continuation

FX:GBPUSD   British Pound / U.S. Dollar
570 4 19
Nothing has changed with respect to our main analysis, this movement should be interpreted as a technical rebound, so our expectations are yet to see a second bearish leg.

(Click & Play Chart)

If you think that all of our work deserves your "I Like", we thank you!!

If the scenario you have put forward plays out the pair will have put in a lower high followed by a lower low, that is extremely bearish a classical Dow theory type short position yet you suggest only considering going long. Could you explain your thinking?
Hi Steve, my opinion is expressed in the analysis, at the same time I share your idea (Dow), but the trading is done by "choices" .... :)
+3 Reply
Agreed, the price action on the previous leg down looks incomplete, from an Elliott Wave perspective and also, I don't expect the market to move too wildly before NFP. Going by the chart, the next leg up should be considerably strong, and this is clearly not it, no fundamental backing for such move 'YET'.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out