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Elliott Wave Analysis: EURUSD And GBPUSD Look For A Bullish Reversal

Elliott Wave Financial Service
By Elliott Wave Financial Service

We have seen some nice USD recovery recently, but so far only in corrective structure on several FX pairs. EURUSD has three waves down; ideally a-b-c move is coming to an end and will complete wave four this week, maybe already after the US close when Trump will have a speech. Technically speaking we will be looking up to 1.26 if pair closes on a daily basis above trend line resistance and rallies above 1.2492.

EURUSD, 1h

Cable can be in a similar situation; now at the end of wave C if we consider that pair has five subwaves down into wave C=A level. Rise above 1.4150 would be bullish for the pair.

GBPUSD, 30Min

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Elliott Wave Financial Service
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