GBPUSD ELLIOT CORRECTION WAVES

GBPUSD
Is forming a Elliot correction wave of A. And its already completed the Fifth wave
And its running in a rising channel which is clear sign of bullish trend

• 
  

Due to the corona virus spread in USA the USD is so weak in these days.This might continue in coming days

• 
  

Even though the USA government announced the stimulus package to help the Economy Its failed to support the USD against major pairs such us EUR,GBP,CHF,JPY,CAD

• 
  

We can open long position at the completion of minor wave A at 1.23250 which is also a 50% Fibonacci level

• 
  

Primary target would be 1.25300 which might be a place where the minor wave B expected to close. Which is also a 61.8% Fibonacci zone

• 
  

Stop lose may placed below the 1.22500 level

• 
  

Recently 100 EMA and 200 EMA is formed a golden cross in GBPUSD which will further confirming the bullish trend

• 
  

We can expect another Elliot impulse wave correction after this minor wave formations

• 
  

Leave your comments below

Operación activa:

Primary target was acheived with +95 pips