Elliott wave Analysis: GBPUSD and Silver Intra-day Update
Cable is doing quite well. After a five-wave rise into wave A away from 1.3000 level, we can see a slow three-wave a-b-c corrective decline in wave B, from where we may see a bullish continuation for wave C towards 1.3400 area soon. In case if price goes deeper or more complex, invalidation level remains at 1.3000.
As expected, even Silver is doing pretty good. Seems like it wants to go lower after a completed three-wave A)-B)-C) rise, especially now when it’s already breaking below channel support line. So, be aware of more weakness within wave 3, while it’s below 15.62 invalidation level.
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