Elliott Wave Analysis: EURGBP Trading In A Temporary Correction; More Weakness To Go
On the 4h chart of EURGBP we see a nice bearish price action unfolding down from 0.8851 which is expected to continue after recent three wave bounce to 0.8640, labeled as wave 2). If we are correct, then we know that strong bearish move with accelerating price move is around the corner, especially as third waves are normally the strongest. So ideally market will continue lower into wave three of three in the near-term towards 0.8300-0.8350.
Visit us at http://ew-forecast.com/register/