GBP/USD

Market analysis of March 29, 2010 at 5:26 pm

The longer term trend of the forex pair GBP/USD is bearish. The Elliott Waves are clearly negative if you look at a weekly chart. The leg down from the top of around 2.15 is impulsive and not corrective. That means that the bottom of 1.35 which was set January 2009 will be broken again.

Read the complete GBP/USD analysis of March 29, 2010