GBP/USD - Elliott Wave Technical Analysis Structure & Degree: Complex Double Three in Intermediate Degrees (W)(X)(Y) (pink) - Intermediate (W) (pink): Zig-Zag with Leading & Ending Diagonal - Intermediate (X) (pink) : Complex Double Three in Minors WXY (turquoise) - Intermediate (Y) (pink) - Simple Flat formation, with a Leading Diagonal in Minor A (blue) & a Complex Triple Three in Minor B (blue) Minor B (blue) incomplete, Minor C (blue) pending support Triple Three Structure: - Simple Flat in Minute w (purple)- 3-swings Sequence Minute x (purple) - Zig-Zag in Minute y (purple)- 3-swings Sequence Minute x (purple), interruption/bridge Current Position & Pattern: - Minute z (purple), bearish 3-swings or 5-swings sequence Expected Swing: - Intermediate (Y) (pink) continuation: Minor C (blue), Bullish 5-wave Impulse Technicals & Confirmations: - 50% or 61.8 Fibonacci Retracements of Minor A (blue) - 161.8% or 200% Fibonacci Extensions of Minutes w & x (purple) - Bullish Divergence at Support - Bullish Harmonic Structure
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