EURGBP Short-term Elliott Wave Analysis 1.26.2015

Preferred Elliott wave view suggests wave (W) ended at 0.7593 and wave (X) ended @ 0.7714.  Wave “W” is proposed to be over at 0.7403. Wave “X” bounce is in progress & could reach as high as 0.7558 – 0.7597 (50 – 61.8 fib) area before decline resumes. We don’t like buying the pair & expect sellers to keep appearing in 3, 7 or 11 swings as far as pivot at 0.7714 high remains intact. If pair breaks to new lows from here, that would suggest wave X high ended already at 0.7506

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EURGBP 6020150126131129


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