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...
Market is going to change trend of higher highs and higher low. Down trend is going to start. Market has traced 0.786 of previous high and made lower high which is indication of trend change. Market has to trace 0.618 of previous low which is our target. 5 wave patterns is also complete,
Cypher pattern has been formed on 1H scale. Market is in down trend and formed flag pattern of multiples tops and bottoms with higher highs and higher lows. Market will trace 0.618 of previous high and will fall badly.
Market is going to breakout this channel after hitting the strong resistance area.