Long Term Elliott Wave Vision in GBPUSD

Do you remember, when GBPUSD reached 2.1159 in November 2007? Do you remember, when it fell to 1.3502 January 2009? Do you remember when it recovered to 1.7190 July 2014? Well, you better do, because these are the three key points, which paved the way for the crash we are currently witnessing. Wasn’t it Brexit, most would…

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GBPUSD Faces a Major Obstacle

It has been a rough week for the GBPUSD. Just as it seemed the pair was going to approach the previous multi-month high at 1.4770, the bears ran out of patience and caused a plunge to 1.4385 so far. Obviously, the resistance of 1.4770 turned out to be too strong for the bulls to breach,…

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The Mischievous Running Flat Correction

In “Expanding Flat and How to Avoid Its Traps” we examined probably the most common type of flat correction the markets could offer. It is easy to spot and relatively easy to trade. However, if you are constantly expecting the expanding variety, you are not going to be prepared for its exotic, but deceptive cousin…

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GBPUSD and the Art of Reversal Prediction

GBPUSD climbed to 1.4770 at the start of last week, but quickly lost momentum, allowing the bears to take the wheel and sink the pair to 1.4414 on Friday, May 6th. The rate has been in an uptrend since the start of April so the initial rally could be expected. But what about the bearish…

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GBPUSD and Trustworthy Elliott Wave

GBPUSD is taking a hit this week, falling from 1.4220 at the start to as low as 1.4005 on Wednesday. This performance is in total contrast with what we saw the previous week, when the bulls managed to lift the pair to almost 1.4460. With all the gains from 1.4056 already erased, the only question…

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Did Brexit Fears Cause GBPUSD’s Plunge?

What a surprising week this is for GBPUSD. Less than five trading days ago, on March 18th, the pair was flying above 1.4510 and just look how fast things change – today it plunged to 1.4056 so far. According to most mainstream analysts, Brexit fears are responsible for this week’s sell-off in GBPUSD. And it…

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GBPUSD a Week Ahead of the News

It has been an interesting week in the FOREX market. The most violent price movements were in the Euro pairs, following ECB’s policy statement, but GBPUSD received its share of volatility as well. The pair initially fell to as low as 1.4117, but then rallied sharply up on Thursday. Right now, it is flying above…

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GBPUSD Sends A Bullish Message

According to the Elliott Wave Principle, every five-wave impulse is followed by a three-wave retracement in the opposite direction. Once the retracement is over, the trend resumes in the direction of the impulsive sequence. Now, let’s see what would we get, if we apply these rules to the 15-minute chart of GBPUSD. As visible, GBPUSD…

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GBPUSD Alternate Count Aims Much Higher

It has been almost a year since we published “GBPUSD, Not As Optimistic As It Seems”. 360 days ago, GBPUSD was trading close to the 1.70 mark, but the Elliott Wave Principle told us to expect a major top soon, followed by a big sell-off. The next chart illustrates how that forecast was looking in…

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The Bears May Return For GBPUSD

GBPUSD formed a bottom at 1.4950 on January 23rd. Some 20 days later, the pair climbed above 1.54. Should we expect the recovery to continue or the return of the bears is just a matter of time? In the search for the answer, we will examine an hourly chart of GBPUSD, in order to see…

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What To Expect From GBPUSD In 2015?

In one word: weakness. In the middle of the year GBPUSD reached above 1.70. Many economists were worried that the Pound’s strength may even hurt Britain’s economy. On the other hand, this is what we wrote on May 17th in an article, called “GBPUSD, Not As Optimistic As It Seems”: “GBPUSD has been in a…

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A Confusing Type of Flat Correction

In our Education Section there is a lesson, called “Elliott Wave Patterns”, where you can learn in details about all three variations of the flat correction. The most important thing you should know about a flat is its wave structure. It consists of three waves, labeled A-B-C. Waves A and B have three sub-waves, while…

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GBP USD to head towards 1.64?

Four days ago, on 19th October, we showed you a 4-hour chart of GBPUSD in an article called “Decreasing Selling Pressure on GBP USD”. The corrective recovery, which we told you about in this material seems to be still in progress. In order to gain deeper knowledge of the wave structure of the rise, we will take…

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Decreasing Selling Pressure on GBP USD

On September 23rd we gave you our short-term outlook on GBPUSD in an article, called “Intraday Weakness for GBPUSD Rate”. The chart below gave us enough reason to “expect more weakness”, because we had a perfect 5-3 Elliott Wave cycle on it and, according to the theory, the trend should resume in the direction of the…

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Intraday weakness for GBPUSD rate

The smallest time-frames are usually observed by daytraders. If you are one of them, this article may be helpful. The GBPUSD rate managed to climb to above 1.6520 last week, but then reversed to the downside and found support at 1.6282. The subject of the analysis is the wave structure of this decline. The 5-minute…

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