Yesterday in our intraday section we showed you a forecast of GBPUSD on a 5-minute chart. All we needed was a five-wave structure, which we had, so we were expecting more strength from this pair. Below you can see how the chart looked like back then.
On the next chart you will see how GBPUSD developed and currently looks like.
As shown, Cable made a new high in what we expected to be wave (3)/C. This situation is a good example of the Elliott Wave Principle being accurate and successful, even on the smallest time-frames, such as 5-minute. There is still some upside potential.
