Crude looks bullish, GBP could bounce – Elliott Wave

Crude OIL

Crude oil is making a nice bullish run in the last few days with a very strong volume and momentum so it seems that energy may see much higher prices this week. In fact, we are tracking an impulsive price move, now in wave three of three that can be headed up to 46 and 47 levels while the market is above 43.84.

Crude OIL, 30Min

GBPUSD

GBPUSD keeps moving lower, but possibly in the fifth wave of a decline from 1.3090 with a shape of a wedge that can be an ending diagonal. Ending diagonal is a reversal pattern that occurs at the end of a price move, so be aware of a bullish turn, ideally up from a new low that can be found near 1.2860/1.2880.

GBPUSD, 1H

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