GBPUSD Price at 2009 Trendline, Be Ware Of Bearish Reversal – Elliott Wave

GBPUSD is at new highs, now above wave A 1.6255 high which means that pair is already in wave C. This wave C can be a final leg of a complex corrective rally in wave E) that is already testing a trendline from 2009 high. As such, we need to be aware of a possible bearish reversal in the next few days, in impulsive fashion back to 1.6130. This would then be a strong bearish signal for the pound.
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Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and He also is founder of forex services on provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: