Elliott Wave Analysis of GBP/USD - Preferred Long-Term View
I last updated my preferred long term count/view back in January 25, 2021 and was looking for a rally in wave C towards long-term resistance in the 2,0000 - 2,1200 area.
Well it turned out that wave 4 of the ending diagonal in wave C/ of B became more complex than I expected then and a final dip lower to 1.0354 was needed to complete wave 5 of C of B.
With wave B complete I am looking for wave C to take us all the way higher to the 2,0000 - 2,12000 area.
The next solid resistance to look for is seen near 1,4234. We should expect this resistance to cap the ongoing rally for a period of consolidation before the next major rally higher towards 1,7100 and ultimately higher into the 2,0000 - 2,1200 area.
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