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, February 2, 2010
One more push short?
Well the pound hit my zone and then pushed long but it was a weak movement. The total long move looks corrective. This leads me to believe that it is going to push short one more time below 1.5849. As long as it stays above 1.57063 the triangle scenario will reman intact. A break of that point means the short is in force as a major trend. At this point we will just have to wait and see.
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