Elliott Wave Analysis: GBPUSD and Nasdaq 100
Elliott Wave Analysis: GBPUSD and Nasdaq 100
Cable remains in a complex downtrend, seen as a double zigzag in wave B) which is now retracing back to 1.2794-1.2860 area where we think that pair may look for a support this week. An impulsive reaction higher from there, and above the upper resistance line will be a strong indication that market is headed back above 1.3000.
GBPUSD, 1H
NASDAQ100 made a nice run since Friday but currently with a five wave move up from 5577 so we can expect a corrective set-back. From a minimum expectation and based on guidelines there can be a three wave drop back to 5647 support area.
Nasdaq, 1h
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