This blog is dedicated to my analysis of the GBPUSD currency pair. My primary analysis tool is Elliott wave theory in combination with a proprietary moving average (Jurik JMA) and a custom MACD setting. I make updates as warranted. IMPORTANT NOTE: I use a dot in front of the number or letter to denote the character is in a circle, per correct wave notation.
Tuesday, December 15, 2009
Addendum to GBP Next Move
One thing I forgot to mention in the last post was the minimum short expectation., I gave the max expectation of 1.6140 but should have also mentioned that a minimum expectaion would be that of 1.6205. Once it moves into this zone(1.6205 to 1.6140) I would expect it to run nicely long. My maximum expectation for the long move would be about 1.6600. I will try and identify the end of wave (2) as soon as i can.
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