7 May 2015
SEB: GBP/USD ending the correction – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes SEB believes that GBP/USD is likely ending its upside correction and below 1.5150 will see selling momentum.
Key Quotes
“After having traced out five waves lower (in an hourly chart that is) from the peak of the correctional wave C the pair has slowly edged back towards the mid body point of the May 1 falling benchmark candle, 1.5252, which marks the ideal target for the minor correction.”
“Possibly we have to await the outcome of today’s general election before market forces will start pushing prices lower again (below 1.5150 selling should getting traction).”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“After having traced out five waves lower (in an hourly chart that is) from the peak of the correctional wave C the pair has slowly edged back towards the mid body point of the May 1 falling benchmark candle, 1.5252, which marks the ideal target for the minor correction.”
“Possibly we have to await the outcome of today’s general election before market forces will start pushing prices lower again (below 1.5150 selling should getting traction).”
This content has been provided under specific arrangement with eFXnews.