 | | Classical Outlook: Friday’s price action alone has negated the hopes for a major head & shoulders top formation on the daily chart with the weekly price action now looking more like a bullish consolidation that is on the verge of some fresh upside. A sustained break above 1.6745 should open the door for a push back above 1.7000 over the coming days. Back under 1.6340 now required to shift structure. | | Elliott Wave Outlook: A triangle is also complete in the GBPUSD. Price should stay above 1.6470 on its way to at least 1.7000. Keep in mind that the rally will complete the entire advance from the January low as thrusts from triangles are considered terminal. | |
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