This is a shorter term look a few hours in advance of the ECB meeting Thurs morning and NFP Friday morning.
For the medium term look, see the 4 hour chart on the link below.
Bottom line, Elliott wave counts still point to higher levels. Below 1.1150 to 1.1050 the bullish view is stressed but still alive. I can stuff a bearish count into the picture, but 1.1250 is still feasible under that scenario. Above 1.1250 bulls can get more excited.
GBPUSD appears to be at support so perhaps some USD weakness pokes its head above the surface.
For the medium term look, see the 4 hour chart on the link below.
Bottom line, Elliott wave counts still point to higher levels. Below 1.1150 to 1.1050 the bullish view is stressed but still alive. I can stuff a bearish count into the picture, but 1.1250 is still feasible under that scenario. Above 1.1250 bulls can get more excited.
GBPUSD appears to be at support so perhaps some USD weakness pokes its head above the surface.
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www.seethewaves.com - A school to learn how to read charts & Elliott Wave Theory.
EW Express - bit.ly/elliottwaveexpress
