EURGBP

Hi Traders,

The EURGBP (now at 0.8528) is still on the way down to the area 8422-8408 and lower.

TARGETS

likely: area 0.8515
possibly: 0.8467-8459
maybe: 0.8422-8408


ELLIOTT WAVES

The weekly chart displays and a-b-c-d-e followed by wave 1 and 2. We expect "wave 3" as a minimum.

ENTRY POINT

The EURGBP made a double bottom recently in the 1-hour chart. Hence, there might be a temporary pullback.

NOTE

The Pound is heavily manipulated by the BOE and it's traded by expert traders on the London floor. Hence, be careful.



monthly chart - click to enlarge

weekly chart - click to enlarge

daily chart - click to enlarge

wave oscillator over daily chart - click to enlarge

4-hour chart - click to enlarge

wave oscillator over 4-hour chart - click to enlarge

1-hour chart - click to enlarge

wave oscillator over 1-hour chart - click to enlarge