Elliott wave Analysis: GBPUSD and EURNZD Update

Intermediate

Hi traders,

Cable is still looking higher towards new highs back to 1.3400 – 1.3500 area and we can see a small bullish setup in the smaller time frame that can test 1.3100 support area before a continuation higher. However, this may get even more complex, but as long as price is trading above 1.2980, we will remain bullish.

GBPUSD, 1h

intra-day gbpusd

Yesterday’s intraday EURNZD is doing great! It’s moving nicely higher as expected and currently it’s just about to break above 1.6615 bullish confirmation level. So, if we see a decisive break and a daily close above that level, then EURNZD may stay in uptrend within wave iii) that can send price much higher.

EURNZD, 1h

intra-day eurnzd

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