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Friday, July 13, 2007

GBPUSD :: Intraday analysis




Last Price: 2.0290
Time Frame : H1
Time: Friday, July , 13, 2007, 8.10am


The fall from 2.0364 is in three wave structures (possible a correction), but given the larger pattern I'm looking for the decline to extend. the market could dip below 2.0100 for correction the five wave up from 2.0057.

Alternate comment :
With fully respect to a near term bull alternate that needs price to push on up to above 2.0364 towards 2.0417 before it start to decline. All this will happen in 5 wave structure and the support @ 2.0268 remain intact and trading above 2.0364 will bolster this count.

However, both count are heading to the same direction.

Trading idea:
wait and trade at wave c

apengfx-
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