EURGBP cycles have been clearly negative since February 25/2013. We, at EWF, always advise our members to trade with the trend and not against it. The charts below clearly shows how we continue advising our members that EURGBP will continue with the down trend. No matter how many times EURGBP kept creeping higher we continued telling our members, through webinars, charts, 24H chatroom, and daily reports, that as long as price did not break above 0.80346 (Invalidation level) the smart trade would be to the shortside. Let’s take a look at some Elliott Wave updated charts from members area below
July 8/2014 EURGBP
July 9/2014 EURGBP
July 16/2014 (Invalidation Level changed and view is still to the downside)
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** Started July 14/2014 all EWF charts will show Invalidation Levels to assist our members to manage and position their trades more accordingly **