Interesting Pattern on GBPUSD Points Up! - Elliott Wave Analysis

Good evening traders,

Cable is very slow for the last few sessions so we see this move as a correction on the way up; we are tracking a possible zig-zag within a wave 4), which is now in final stages, and points above the 1.297 bullish level. That said, if price continues to move sideways from current levels then wave four correction can still be unfolding a triangle. In both cases more upside is expected.

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Trade well,

The EW-Forecast team

GBPUSD, 4h

gbpusd, 4h