Elliott Wave Analysis: GBPUSD Aiming For Lower Levels


GBPUSD is now trading quite lower, around the 1.2565 level, which gives us an idea that the previous wave B) found a top at the 1.272 level. As such price could be trading at the beginning of red wave C), which can extend its fall towards the 138.2 or 161.8 Fibonacci ratio.




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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.