#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

The impulse wave down still has a chance but needs to stay below the 1.30803 to remain valid.  Above there and we may see a move above 1.3282 to complete the circle b.

GBPUSD 1 HR Elliott Wave Count

#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

The GBPUSD short is looking good as the pair continues to stair step lower here.  It needs to continue this action to keep the count valid.

GBPUSD 1 HR Elliott Wave Count

#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

The move down from the circle b high is not very impulsive yet so unsure what is going on at this moment.  We may see a move back above circle b before lower if price does not start dropping soon. 

GBPUSD 1 HR Elliott Wave Count

#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

The GBPUSD has created a lower low/low high sequence on a smaller time frame by breaking the 1.3053 low. It now needs to hold below the 1.3080 lows to keep the impulse count alive.  I am still looking lower as long as 1.3213 holds but the count will be a little messy if the bounce here is to strong. 

GBPUSD 1 HR Elliott Wave Count

#GBPUSD 1 HR #ElliottWave Count

GBPUSD  1 HR Elliott Wave Count

Still waiting to see if the  1.3053 low breaks for the possible 3rd wave down of c.

GBPUSD  1 HR Elliott Wave Count

#GBPUSD 4 HR #ElliottWave Count

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.

GBPUSD 4 HR Elliott Wave Count

#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

This is the same set up as the GBPJPY here and really not much change from yesterday.  We could have wave I of (iii) down with wave ii in the works.

GBPUSD 1 HR Elliott Wave Count

#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

Looking for a break of 1.3053 for a continued move to the 1.2765 area.

GBPUSD 1 HR Elliott Wave Count

#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

Looks like the GBPUSD could use one more low to complete the first impulse leg down.  If this is the case for GBPUSD then it is probably going to happen on GBPJPY as well.

I may try a small short on the 3 wave bounce. 

GBPUSD 1 HR Elliott Wave Count

 

#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

Ok Then, in the last update I said I was waiting for the B wave to end so it ended.  : }  

It does look like the C wave down has started.  The first leg looks to need some 4th and 5th waves like the GBPJPY.

GBPUSD 1 HR Elliott Wave Count

 

#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

Waiting for the B Wave to end here soon.  Wave count is invalid at 1.35183.

GBPUSD 1 HR Elliott Wave Count

#GBPUSD 4 HR #ElliottWave Count

GBPUSD 4 HR Elliott Wave Count

The GBPJPY is a little clearer here on this B wave correction so I am going to assume the GBPUSD is currently in the same B wave Correction.

GBPUSD 4 HR Elliott Wave Count

#GBPUSD 1 HR #ElliottWave Count

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GBPUSD 1 HR Elliott Wave Count

GBPUSD looks the same as GBPJPY again.   Just waiting for the A wave down to end and the B up to begin.  

GBPUSD 1 HR Elliott Wave Count

#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

As with the GBPJPY, this pair should be nearing the end of the A wave with a B wave correction beginning soon.  My target up for the B wave is near 1.3300.

GBPUSD 1 HR Elliott Wave Count

#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

Same situation as the GBPJPY here.  Price action must remain under 1.33077 during the 4th wave correction. 

GBPUSD 1 HR Elliott Wave Count

#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

Basically the same thing happening here as I just posted on the GBPJPY.

GBPUSD 1 HR Elliott Wave Count

#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

The C wave on the GBPUSD looks complete with 9 swings lower.  Keep in mind that they can extend or even create a 4th and 5th wave lower yet for an Impulse a wave.  

GBPUSD 1 HR Elliott Wave Count

#GBPUSD 1 HR #ElliottWave Count

GBPUSD 1 HR Elliott Wave Count

The GBPUSD looks to be in a c wave lower for w.  Could see a bounce around 1.3200. A break of the RSI Trendline may indicate that w is complete and x up is underway.

Looking lower while below 1.3518.

GBPUSD 1 HR Elliott Wave Count

#GBPUSD 4 HR #ElliottWave Count

GBPUSD 4 HR Elliott Wave Count

It looks like we have 5 waves up from 1.19586 complete and the pair is working on a B or 2nd wave correction.  I will be looking for support around the 1.2765 area.

GBPUSD 4 HR Elliott Wave Count

#GBPUSD 4 HR #Elliottwave Count

GBPUSD 4 HR Elliott Wave Count

In the 4 HR GBPUSD Elliott Wave Count I am showing the final 5 wave move up that should complete wave 1.  The pair looks to be in wave iv of (iii) right now and after (iii) is complete we will see another wave (iv) followed by the final fifth wave up to complete wave 1.

I do except the RSI trend Line to break during these 4th and 5th wave moves.

GBPUSD 4 HR Elliott Wave Count