GBP/USD - Breaking support near 1.4485 calls for a decline to 1.4024

GBP/USD - Breaking support near 1.4485 calls for a decline to 1.4024 

The break below support near 1.4485 confirms that an impulsive decline from 1.4664 has been seen and calls for more downside pressure to 1.4024 and lower for the coming days/weeks. 

Short term, the downside momentum will stay intact as long as minor resistance at 1.4485 is able to hold. The next minor downside target to look for is seen at 1.4439 and below here 1.4371. 

A break above minor resistance at 1.4485 will call for a correction towards 1.4594 before lower again. 

Longer term, much lower levels should be seen, with an ultimate break below 1.3834 calling for a continuation lower to 1.3344.  

Roelant
2019-06-14
Dear Elliottwavesurfer,

Awesome action in your crude oil surfing 2019! Jumping these waves is a sure way out of economic slavery.
You deserve a slot on MSM. But that would be the end unfortunately...
JT
2014-06-23
Its been a pleasure over the years I have been following you and even better as a member the education you provide in my view is invaluable you can read books as I have but to see how you evolve your ...
Duane
2018-03-03
Hey EWS,

I just wanted to thank you for posting your charts. They are of great help to me. Your charts are a great teaching aid for learning Elliott Wave.

Duane