The GBP/USD pair has witnessed a firmer rebound after defending its two-year low at 1.1350, recorded last week. The cable has extended its gains after overstepping the round-level resistance of 1.1400 and has reached its critical hurdle of 1.1440. The rebound move seems full of confidence and is expected to stay in bullish territory for a while, however, the broader picture is extremely brutal.
In this technical article we’re going to take a look at the Elliott Wave charts charts of GBPUSD forex pair published in members area of the website. As our members know GBPUSD is showing incomplete bearish sequences and we were calling for an extension in weakness. Recently the pair corrected the short term cycle from the 1.2294 peak.
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