ew-forecast

GBPUSD: Correction Underway

FX:GBPUSD   British Pound / U.S. Dollar
One of the pairs we are looking at, is GBPUSD             which had a nice impulse fall from recent highs at 1.4514 level, which now serves as an invalidation level, meaning price must not break above this region. Current bounce from recent lows, where we labeled wave 1, we see as an temporary correction in wave 2, that can ideally unfold to around 1.4227 or even 1.43002 area, where previous wave 4) of a lower degree can act as an resistance and a turning point into lower levels.

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