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EUR/GBP – Bullish Impulse in 4 hours chart

Thursday, March 2, 2017 14:49
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3-3-2017 2-42-13 AMTrend is bullish in four hours chart. Important support is present at 0.8492 price level. Price is most likely going to create a short term bearish pull back to print Wave iv. Wave iv is going to be a Flat of Triangle Elliott Wave pattern.

A trading idea is to wait for more bars to get a clear pattern and then go long at the termination point of Wave iv. If price breaks below 0.8492 vital support level then up trend is going to end. In such a market scenario, it would be best not to trade the market and re-analyze the EUR/GBP 4 hours time frame.



Source: http://fxinstructor.com/blog/eurgbp-bullish-impulse-in-4-hours-chart

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