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, January 19, 2010
In Wide corrective (iv) wave
We are in a corrective fourth wave that began at last nights high of 1.6407. Going forward the movement should pop above 1.6442 and then move short to about 1.6200. Once that happens we should see new highs in the GBP.
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