Elliott of GBP/USD wave technical analysis [Video]
The daily chart reflects a firm upward trend in the GBPUSD, underlined by impulsive wave patterns. The structure reveals that the Three Wave in Navy Blue is being formed as part of a larger ascending cycle marked by the one in gray. With the two -in -blue wave apparently completed, the three wave progresses. This stage typically offers the greatest movement in an Elliott wave impulse, suggesting that significant ascending potential can be ahead. Read more…
GBP/USD forecast: The sterling pound remains firm after mixed data from the United Kingdom
After climbing a weekly maximum above 1,3350 in the European session on Wednesday, The GBP/USD invested its direction and ended the day in negative territory. The pair remains firm in Thursday’s European session and lies slightly below 1,3300.
The United Kingdom National Statistics Office (ONS) reported early on Thursday that the Gross Domestic Product (GDP) expanded at an annual 1.3% rate in the first quarter. This reading followed the 1.5% growth recorded in the previous quarter, but was above the 1.2% market expectation. In a negative note, the ONS said that manufacturing production and industrial production contracted 0.8% and 0.7%, respectively, in monthly terms in March. Read more…
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
