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 12, 2010
More upward potential?
After analyzing the corrective movement from 8 am PST this morning. I believe there is much more upward potential. Anywhere from 1.6300 to 1.6400. A break above 1.6180 would be solid confirmation of this outlook. If this happens I will post another chart with the labeling. If it doesn't happen then I wll stick with my original labeling on the last chart. If it does I will post a new chart
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