Elliott Wave: GBP/USD & 10 Year T-Notes

Elliott wave Analysis: GBP/USD & 10 Year US Notes

British pound

The British pound/U.S. dollar (GBP/USD) was sharply down the last couple of days, but we see it now in final stages of a big five-wave movement, so pullback with a bigger three-wave corrective rise back to 1.4000 level may occur soon.


GBP/USD, 1-hour


Treasuries

The 10-year U.S. T-Notes can be currently trading in a temporary pullback of wave (4), with possible resistance and a bearish turn coming in around the upper side of the lower base channel line. A drop in impulsive fashion would suggest a completed correction and more weakness.


10-Year Treasuries, U.S. Notes, 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 TheLFB.com. He also is founder of forex services on www.ew-forecast.com.