Forex is predictable.

I consider that the pound has a way up to go till the end of wave (iii) of 5. Long positions are a little bit too risky.

 

GBP/USD resistance at 1.7040
Mkt is still technically bullish within a longterm consolidated pattern. Need to close above 1.7040 to establish the bullish trend with a march upwards toward 2.0000

We shall see.

 

Totally agreed about the resistance at 1.7040. For my wave count breaking of these levels will confirm that wave 5 is in action.

 

...and the second chart...with the reached target

 

I think we're gonna see here some corrective downturn.The first targets that I would point are at 0.71800 and 0.71300. Important support line is the channel's lower shoulder.

 

An example how to manage your trades using Elliott wave Principle.
Part one - analysis and forecast.

 

An example how to manage your trades using Elliott wave Principle.
Part two - what actually happened.

 

I can’t believe that is even a title!!!
Forex predictable?? That would mean economy is predictable, and that the markets are predictable and of course they aren’t!!!

 

After the market made another two more thin highs, it reversed and went straight to the target we've set. I hope you've taken this profits. Good luck.

 

That dollar move against all the majors WAS NOT predictable.

F'n Obama!