Sterling looks to be capped at the most recent high of leg D of this Black Swan pattern, even with the pressure of negative CPI data and tensions with the east the DXY is looking to extend some upwards action with US yields data. Sterling on the other hand doesn't have much to stand on as most of the upside momentum has been delivered from US data and news.
Type 2 close on 1.257X
Breaking fresh support level B
Leg D closing below highs printed in march
Elliot wave forecast indicating an opportunity to short this pair
Type 2 close on 1.257X
Breaking fresh support level B
Leg D closing below highs printed in march
Elliot wave forecast indicating an opportunity to short this pair
Order cancelled