Is cable finally bottoming?

September 28, 2017 10:16 AM
Elliott Wave Analysis: GBP/USD

Is cable finally bottoming? This is what I am wondering at the moment after that turn up from 1.3340 low. We see price approaching upper channel resistance line, but still, need a push out of that downtrend and a daily close above 1.3464 before a low of Wave 4 can be locked in.

GBP/USD, 1 hour


About the Author

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and He also is founder of forex services on provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: