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.
Wednesday, February 3, 2010
Short Over?
I think the Sterling won't make it to the short side daily trend line. Between 1.5865 and 1.5880 will probably be the limit on the short before it moves long. Now, I expect it to trend long to the upper trend line on the daily chart which is currently at 1.6754. It may fall a bit short of that but will make that call when we get there.
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