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.
Sunday, December 13, 2009
Intersession update
The GBP achieved my minimum short target of 1.6195 making a low of 1.6189. It looks like that is as far as it is going to go short for now. Once it breaks 1.6308 that will confirm the long retracement that I predicted in my last post. I expect the long retrace to take at least a week and peak out close to 1.6500. Stay tuned.
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Going short guys.
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