US indexes fell yesterday to a new swing low, but we still do not see any significant bearish leg coming. On DJIA we see a corrective move that is part of incomplete rally. Based on latest wave structure we see a reverse symmetrical triangle placed in fourth wave that is now seeking for supports around 17000. Rally back to 17140 would out bulls in control for rally up into fifth wave.
DJIA 4h Elliott Wave Analysis
GBPUSD fell to a new low earlier today that can be fifth wave of decline from 1.6642 so a bounce in price will follow soon. We need a decisive push above 1.6151 to look for a higher price in expected wave 4).
GBPUSD 1h Elliott Wave Analysis
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