GBPUSD and S&P500 Intraday: Elliott Wave Analysis 8/13/2014


Traders, GBPUSD came down today after BOE Inflation report. I am wondering if that was all from wave 4 followed by drop to wave 5. It definitely can be the case, so be careful here and don’t fall into current leg down; it can be final within an impulsive sequence.
GBPUSD 1h Elliott Wave Analysis
GBPUSD Intraday
S&P500 is showing some reversals from 1940 resistance, so we think that market is still in corrective formation from Aug 11. Ideally we will see lower levels here with wave c) leg down to 1920/1925 where support can be found for a new bounce. But something is clear sooner or later uptrend will be continue, while 1890 low from last week is in.
S&P500 (September 2014) 1h Elliott Wave Analysis

SPX Intraday

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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 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.