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6 Feb 2015
GBP/USD could face resistance around 1.5350 levels – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, uses Elliott Wave Analysis, to give the technical outlook for cable.
Key Quotes
“[..] what we see is a that primary trend is still clearly bearish, so we adjusted the wave count so that we can expect more weakness. With that said, current rise is still considered as a contra-trend move, but it's a zigzag in wave four that can stop around current 1.5300-1.5350 zone.”
Key Quotes
“[..] what we see is a that primary trend is still clearly bearish, so we adjusted the wave count so that we can expect more weakness. With that said, current rise is still considered as a contra-trend move, but it's a zigzag in wave four that can stop around current 1.5300-1.5350 zone.”