The USD is mixed this morning, sideways against the EUR and AUD but up against the CHF, while it’s looking weak when compared to GBP ahead of BOE vote rate decision today at 11GMT. Stocks remains in bullish mode, especially the European ones which are now in stronger shape than the US equities.
On the chart below of GBPUSD we see three legs down in wave B) that appears complete because of a sharp rally to 1.5640 in the last few sessions. We see this as start of an impulsive wave c) that can rally to 1.5700-1.5740 area where new turning point can occur.
Read the rest of the article GBPUSD May Face Resistance Around 1.5700, GBPJPY Moving Towards 196.00 – Elliott Wave Analysis