NZD/JPY falling inside minor impulse wave C Next sell target - 76…
GBP/USD reversed from support area
- GBP/USD reversed from support area
- Next buy target - 1.3550
GBP/USD today reversed up from the support area lying between the support level 1.3300 (former resistance level and the upper boundary of the sideways price range inside which the pair has been trading from the start of October) and 50% Fibonacci correction of the previous sharp upward impulse wave form the start of November. GBP/USD is expected to rise to the next buy target at the next resistance level 1.3550 (top of the previous impulse wave (iii)).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.