News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Guest Commentary: The Next Good GBP/USD Buying Opportunity

Guest Commentary: The Next Good GBP/USD Buying Opportunity

Eric Morera, Technical Strategist

The drop in GBPUSD from 1.6603 to 1.6305 was corrective in nature and completed wave B, as per our preferred view. The rally since then is being viewed as a simple A-B-C pattern, which we believe is part of wave iv of (c).

After another high, which can take GBPUSD as high as 1.6664, the pair should make a corrective pullback (b) and continue the rally.

We don't like selling the pair pair in wave b and would rather use dips as buying opportunities.

It remains to be seen where exactly wave a will end, but wave b could take the pair back towards the 1.6437 - 1.6460 area.

By Eric Morera of

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.