Elliott Wave Analysis: EURGBP Intraday View

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EURGBP was crazy last week, with a spike to 0.9559 before it came back down to 0.8900 area. We see that bearish retracement as start of a bigger pullback so we think that current recovery is going to be an a-b-c move that can rally to 0.9150-0.9200 area before price turns down for 0.8900 once again.

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EURGBP, 1Heurgbp-1

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.