GBP/USD might retest 1.5163 before turning lower – EW-Forecast

FXStreet (Barcelona) - ">Gregor Horvat of EW-Forecast, uses Elliott Wave Analysis to predict that GBP/USD corrective wave has begun.

Key Quotes

“GBPUSD turned up after accomplished five wave decline from 1.5550 that represents wave (5) within big impulse.”

“Based on latest recovery to 1.5163 we assume that corrective wave has began, which means that three waves up are expected. We are looking for (A)-(B)-(C) move that can spike above 1.5163 before turning down.”