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, March 9, 2010
Quick update
I believe themovement since 2 am today is very corrective. I expect the short to resume without much more retrace in the long direction. I would expect 1.5030 would be the limit of the move up. From there the short should resume. At the moment the correction looks like a flat or may morph into a double three correction. I will post a count when it is over. I am still lookigfor it to mvoe below 1.4780 at a minimum.
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