GBPUSD 4 HR Elliott Wave Count
As with the GBPJPY, this GBPUSD has a nice 5 waves down from the highs. The b wave correction on the GBPUSD actually hit the 61.8% retrace perfectly but does look impulsive. With the impulsive looking move up we need to be careful that wave I have labeled as (i) (ii) is not and (a) (b) with this currect move lower a (c). A break of 1.2906 would indicate the B wave was compelete.
Long term I am looking for a higher correction for both the GBPJPY and GBPUSD before a move to new lows again.
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| GBPUSD 4 HR Elliott Wave Count |