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Up trend in GBP/USD 15 Minutes Chart

Tuesday, April 11, 2017 15:25
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(Before It's News)

4-12-2017 2-59-46 AMTrend is bullish in GBP/USD currency pair in 15 minutes time frame. Short term support is present at 1.2403 price level. Based on Elliott wave analysis, I expect price action to drop to print a corrective Wave iv leg.

A good idea is to wait for a bearish pull back in price action and then look for a buy trade in GBP/USD currency pair. However; if price breaks below 1.2403 support level then up trend is going to end. In such case, I would prefer to stay out of the market and re-analyze the price action in GBP/USD 15 minutes chart.

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