Elliott Wave Analysis: Bears Taking Over GBPUSD

GBPUSD is trading sharply to the downside, which gives us an idea of a change in trend, from bullish to bearish. Because of such clear price movement, we can say that price may be trading within an impulse of a higher degree. Specifically sub-wave three of 3 can be in progress, meaning even more weakness may be seen at the end of this week. Ideally bears will be seen even next week on cable.