Elliott Wave Analysis On GBPUSD And SILVER
![SILVER analysis](https://www.onestopbrokers.com/wp-content/uploads/2016/08/SILVER-analysis-685x320.png)
GBPUSD
Since we can count five waves up on the GBPUSD, then current move to the upside could be blue wave b, if infact a flat correction emerges. This means that we then expect a five wave move down to unfold in blue wave c, after wave b is completed. We have labeled a potential support for this corrective move down at 1.2977 as black wave 2.
If price continues to go up, then we can say that wave 2 had already copleted its correction at the 1.2977 level.
GBPUSD, 1H
SILVER
On the 4h chart of Silver, we are observing a sideways price action, that is slow and quite overlapping, which gives us an impresion that this could be a triangle correction. If this is true, then more upside may follow, after waves D) and E) unfold.
SILVER, 4H
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