7.16.2014 GBPUSD Ending a Cycle
GBPUSD made a strong push higher after a double correction lower from 1.7177 high. While above 1.7055 low, pair is expected to make another push higher toward 1.7228 (equal legs up from March low) to complete a cycle and then it should pull back in 3 waves. Last push higher in the pair is expected to coincide with corrective 3 wave pull back in USDX. Price must stay above 1.7055 low for extension higher to be seen toward 1.7228 – 1.7356 to end the cycle.
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