Wednesday, August 5, 2009

Gbp vs Jpy(1H) and Gbp vs Usd (Daily) - Market Overview


Gbp vs Jpy (1H) - At this moment, I'm looking forward for a bearish reversal trend to perform corrective wave a, b and c in white. But, please be careful since market is also in favour to perform another bullish continuation trend to complete a "throw-over/bullish trap" scenario of wave 5/b in yellow. Otherwise we may see another bullish rally (167.59) to complete major wave 4 in magenta. Advisable to look for any opportunity towards a bearish reversal trend scenario either in alt counts in white or yellow.


Gbp vs Usd (Daily) - At this moment, market already reached the upper channel trendline. Therefore, I'm looking forward for any possibility towards a pullback/bearish reversal trend scenario either a completion of major wave 4 in magenta or subwave v in yellow. Otherwise, please be careful since market have a big possibility to perform a bullish continuation trend refering to the alt count in white.
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Good luck.

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