25 June GBPUSD Elliott Wave Analysis: Downtrend or Bullish Correction?


The 25 June GBPUSD Elliott Wave Analysis shows that the pair is in a critical phase where price will either show a continuation of the downtrend or larger bullish retracement. A break below the 100% Fib invalidates bullish wave 2 (blue).

25 June, GKFX – The GBPUSD is in a critical phase where price will either show a continuation of the downtrend or larger bullish retracement.

25 June GBPUSD Elliott Wave Analysis: Downtrend or Bullish Correction?

The GBPUSD could either start a wave 2 (pink) correction once price breaks above the resistance trend line (orange) or continue with the downtrend if price breaks below the previous bottom at 1.31.

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GBPUSD

The GBPUSD could be building a potential wave 1-2 (blue) if price breaks below the support trend line (green). A break below the 100% Fib invalidates the bullish wave 2 reversal (blue).

Disclaimer

This article 25 June GBPUSD Elliott Wave Analysis was provided by GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

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