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, January 31, 2010
Confirmation point
When the GBP breaks 1.6007 in he long direction, this should be solid confirmation that wave c (circle) of the triangle is over and long is the trend for the next 2-3 weeks that will probably terminate near 1.6700. and then move short again.
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