Revised New Count

Well as you can see the GBP just kept pushing down. That is why, in previous posts, I cautioned against trading long. I prefer to just look for places to take profit and get back in short. I have revised my count. I had previously said that 5 waves down were complete. This now does not look to be the case. It looks like we are still on the left side  (motive side) of the movement that began on 11/17/09. We are in wave 5 but it has not quite finished yet. When  it is complete the most likely retracment point is 1.6410. From there we will discuss next moves. I will do my best to call the bottom of Wave 5 when I see it.