Hello dear friends!
Today, GBP/USD has recovered to near the 1.2600 level after receiving a good boost from the 1.252 support level. The US dollar has struggled to find demand on Thursday as there are increasing signs of looser conditions in the US labor market ahead of Friday's jobs report.
In the latter half of the day, the weekly Initial Jobless Claims data...
From my honest elliott perspective I see a clear trend. After a correction at the start we started our impulsive wave to the upside.
At the moment we are looking for a quick retracement down between .236 and .382 to complete the fourth wave. Fourth wave can be very choppy and alot of sideways action.
The EMD Daily time frame is in sideways movement. The market is at the bottom of support. As long as the market holds at support, I am expecting the market to push bullish towards the top of resistance price point 2130.00 about +7,950 ticks away.
