Our mid-term Elliott Wave cycles remain firmly bearish in EURGBP. Pair tested the inflection area between 0.7591 – 0.7618, got rejected and turned lower as expected. Cycle from the lows is over so connector wave (( X )) is thought to be in place at 0.7591. Decline from this high is so far in 3 […]

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Metal made a marginal new low below 2.423 and started recovering we are going with the idea of a double correction in wave (( X ))  as per preferred Elliott Wave view and expected to test 2.633 – 2.684 region before decline resumes. Ideally expected price to stay below 1.618 ext at 2.766 for a turn lower. […]

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 […]