Elliott Wave Analysis: GBPUSD and NZDUSD

GBPUSD

British Pound rallied sharply on Friday, finishing the week at the highs for the day, on the upper side of a trading range. Also notice that before that, the price did not fall beneath 1.5200, so actually the  trend is still up from 1.5108 because of higher highs and higher lows. That said, we assume that the pair is still in a corrective recovery, maybe a complex double zigzag with wave C) is yet to come. We see room for a move up to around 1.5600 then, before bears can come back in play.

GBPUSD, 4H

NZDUSD

On the NZDUSD chart we see the pair making wave ii) pullback which still can reach levels around 0.6700 before the uptrend will finally resume up into wave iii) towards new highs at around 0.6900. Invalidation level remains 0.6620. We could be interested in long positions.

NZDUSD, 4H

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