Elliott Wave Analysis: EURGBP Trading In A Temporary Correction

EURGBP made a nice five-waves of decline within higher degree blue wave 1 and recent rise that followed can be corrective wave 2, that can unfold three sub-waves. We see first sub-wave A) in the making. The whole correction can later search for resistance near the Fibonacci ratio of 50.0 and 61.8 and make a new reversal lower.