GBP/USD forecast: Pound pound sterling remains fragile in front of US data
GBP/USD staged a setback and stabilized at 1.3300 after 1.3270 at the beginning of Thursday. The pair of technical prospects have also pointed to the collection of bullish, as investors are waiting for macroeconomic data from the US.
GBP/USD came in the middle of the week as the US Dollar (USD) retained its strength despite the frustrating growth exhibition. The US Economic Analysis Bureau announced on Wednesday that the US gross domestic product (GDP) was preliminary estimates that the first quarter of the year signed 0.3%. Read more …
GBP/USD Elliott Wave Technical Analysis [Video]
The daily analysis of the GBPUSD shows a correction of a counter -disease that opens in a larger bear movement. The couple has finished the Navy's Blue Wave 1 decline and has now begun to repair the Navy blue wave 2, continuing to the wider gray wave 1 decline. This setup refers to a short -term upward direction before the primary Bearish trend may continue.
Navy blue wave 2 shows a correction that usually ranges from 38 to 61% of 1. It often forms standard corrective patterns such as zigzags or apartments. After the 1. The wave's strong downward movement is set for a setback on it, usually overlapping prices and weaker momentum. The daily schedule indicates in the intermediate break in the overall queue. Read more …
