FX:GBPUSD   British Pound / U.S. Dollar
Here is the analysis of GBPUSD .
Support and Resistance
GBPUSD has touched the lowest 1.2672 last week and struggling to go up as it has retested multiple times the support line. So at support we intend to go for long on GBPUSD
Elliot Wave Analysis
Cycles of down wave is completed with forming triangles of lower lows and lower highs, but at current value market has broken the trend of lower lows, rather formed higher low, we have to wait, if market does not make lower low then we will be in up trend of higher highs and higher lows. So that is better indication to go for long. Brexit news can affect this set up.
Harmonic Patterns
Head and shoulder pattern is about to complete which is at support area , that is also better indication for going for long.
If you draw a trend line on RSI on GBPUSD pair on 4H scale then it is making higher lows which indicates the divergence, again another indication for going long.
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