Currency pair : GBP/USD.

GBP/USD Elliottwave Signal :-

TimeFrame = Daily for Medium Term with Medium Risk Trade

Signal = Sell stop below 2.0800 area.

Risk Reward Ratio = 2.39+ (Medium Risk)

Our First target profit at 2.0657 area.Second will be at 2.0535.

Stop Loss at above 2.0927 area.

Great Britain Pound Elliott wave Analysis :-

Last Friday we had a clear correction downward form at GBP/USD chart.

That is the first signal of more possible down fall moves if cable continue to loose  bullish momentum.

We see last friday downfall as our first sub-wave a of wave (iv).Our strategy is to wait for sub-wave b to form and then only enter our sub-wave c trade below of sub-wave a low.

The duration of our objective target sub-wave c may vary.Its all depends on market movement.If it made a strong move down, we will see sub-wave c may complete in very near future.And if market have a slow bearish momentum, we could see market take a longer time to complete  sub-wave c of wave (iv).

Critical zone of wave (iv) would be at 2.0370 area.If Cable break that support  and trade below 2.0350 point , it will be a major downfall for a logger period of time.

Latest GBP/USD Elliott wave analysis on medium term basis :-

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Currency pair : GBP/USD.

GBP/USD Elliottwave Signal :-

TimeFrame = Daily  for Medium Term with Medium High Risk Trade

Signal = Sell stop below 2.0820 area.

Risk Reward Ratio = 3.5+ (Medium High risk)

Our First target profit at 2.0570 area..

Stop Loss at above 2.0900 area.

Great Britain Pound Elliott wave Analysis :-

Its seem that Cable has extend their wave up to 261.8% of fibonacci expansion.This is one of the most strongest resistance for medium term trades.Thus we expecting a medium correction in very near future, possible of this week.

If cable failed to climb higher than 261.8% fibo level at 2.0900 area we expecting a correction a-b-c towards high of sub-wave i. Then only it will continue to climb higher towards 2.1000 area.This is what we expecting from our medium term analysis.

This is the latest illustrated medium term GBP/USD counting with Elliott wave analysis :-

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