$EURGBP 1 Hour Elliott Wave Analysis (updated)

Preferred view is that a mid-term low has formed @ 0.8153 and completed wave (( B )) on the daily time frame. Pair is in wave ( v ) of (( c )) higher toward 0.8400 – 0.8420 region  to complete wave A. After that pair should make a pull back in wave B which would be 50 – 61.8% of wave A (rally from 0.8153). Shorter cycles are mature so rather than chasing strength at current levels, we like waiting for wave B dip to be seen and then looking for buying opportunities in 3, 7 or 11 swings as far as pivot at 0.8153 low remains intact.  Alternatively, pair would only be ending wave (( iii )) with this triangle thrust and would make a shallow pull back in wave (( iv )) followed by another leg higher to complete 5 waves higher in wave A.

Click HERE to start you 14 DAY TRIAL or take advantage of 2 Months for the Price of 1 Offer



Subscribe to our Forex Blog

First Name: *
Last Name: *
Your Email Address: *