The bear market rally which began on October 13, 2022 with an intraday low of 3,492 topped on March 28, 2024 with an intrday high of 5,265. From top to bottom the S&P rallied about 50%.

GBPUSD’s recent price action indicates a potential shift in momentum. This analysis examines the technical situation and explores potential scenarios for the currency pair.

Elliott Wave view on GBPUSD suggests that rally from 10.4.2023 low takes the form of an impulsive structure. Up from 10.4.2023 low, wave (1) ended at 1.2828.

The second wave correction in the Expanded Flat pattern, where we are in the middle of a decline in Wave C, will have five extended internal sub-waves.

Ether price witnessed a severe drop a few days ago, currently failing to maintain a trading position around $3,300. Whenever ETH approached the $3,000 mark, buyers stepped in, defending the support.

The Japanese Yen continues losing ground amid the divergent BoJ-Fed policy expectations. The recent intervention warnings by Japanese authorities do little to provide any respite.