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29 Dec 2014
Cable`s new year`s elliott wave analysis – EWForex
FXStreet (Barcelona) - Nady Laymoud of ElliottWaveForex shares the Elliott wave analysis for GBP/USD, noting that this week’s main count suggests Cable may continue towards the downside.
Key Quotes
“Cable unfolded as expected and both targets were reached and exceeded by 4 pips before reversing directions and moving towards the upside.”
“This week`s main count expects Cable to continue towards the downside in a motive manner within an ending diagonal while the alternate count expects that Cable has more to offer towards the upside in a corrective wave (ii).”
“In a nutshell, the main count expects one last push towards the downside before reversing directions towards the upside in a mid term uptrend. While the alternate count expects that downwards movement has more to offer towards the downside through 2015.”
“As always we will wait for either count`s confirmation point to be reached to determine the highly probable count.”
Key Quotes
“Cable unfolded as expected and both targets were reached and exceeded by 4 pips before reversing directions and moving towards the upside.”
“This week`s main count expects Cable to continue towards the downside in a motive manner within an ending diagonal while the alternate count expects that Cable has more to offer towards the upside in a corrective wave (ii).”
“In a nutshell, the main count expects one last push towards the downside before reversing directions towards the upside in a mid term uptrend. While the alternate count expects that downwards movement has more to offer towards the downside through 2015.”
“As always we will wait for either count`s confirmation point to be reached to determine the highly probable count.”