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
2016-06-26
Hi Elliotwavesurfer,

Your forecast of the EURUSD waves and reversals on Brexit day were spot on! This was not chaos, the crowd followed a pattern!

GBPUSD was abolutely 100% too!Unbelievably accu...
Felipe
2014-05-26
Hi,

I recently tried a 30 day membership and I am very happy with the service. Pls keep up the great work!!! I will continue renewing!!

Felipe
Jonathan
2017-10-24
Your work is exceptional and glad I found you.