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, July 14, 2010
A little bit longer for Sterling
The wave structure indicates that another high will llikey come. I am looking for an initial pull back into the 1.5200 to 1.51625 area and then a push past 1.5300. Once this sequence is complete, the GBP should have the ability to turn short.
No comments:
Post a Comment