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.
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).
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