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.
Written by