Daily Forex Outlook: GBP/USD

The chart shows the movement started from 2.0146. I think that it is a flat correction and could be already over. In such a case one should expect a new rise from here for a move above 2.0146. A key resistance is 2.0074. A key support is 1.9906

Trading strategy: 10:56 EST; 15:56 GMT

Long position from 1.9995, stop loss - 1.9905, target - open

Confidence level - medium

Trading strategy: 10:28 EST; 15:28 GMT

Buy at market (1.9995), stop loss - 1.9905, target - open

Confidence level - medium

Karoll Financial House

This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts. This report will be updated every Monday, Wednesday and Friday on the next schedule:

• Daily EUR/USD Elliott Wave Outlook - Monday
• Daily GBP/USD Elliott Wave Outlook - Wednesday
• Daily USD/JPY Elliott Wave Outlook - Friday

For more information and subscription to the full daily and weekly Elliott Wave analysis on Majors go to Karoll.net or mail to This email address is being protected from spam bots, you need Javascript enabled to view it