Hi Guys, here is the GBP/USD pair through the eyes of an elliottician. To be honest I have not had very much success applying Elliott Wave to currency pairs... but I couldn't resist. :)Here is a possible scenario for this pair. The reason I have put up this chart is because from an Elliott point of view, it looks like there is a completed 5 wave pattern and a bounce is expected. I personally feel abit more bullish on this pair, but have put up a key guideline: if we rally, 1.5693 needs to hold as resistence for the bears to still have a chance of bringing us the market back down to the floor.We shall see what happens, I will be interested to see aswell as I say, currency and Elliott Wave hasn't been one of my best areas... hopefully that can change.
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