Friday, August 7, 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 continuation trend to complete corrective subwave c in a refering to the alt count in white. Therefore, please be careful for any bounce or breakout scenario towards the lower red trendline. Otherwise, we may see another bullish continuation trend to complete a "throw-over" pattern wave 5 in yellow or major wave 4 in magenta. Please be careful for NFP announcement tonight at 8.30 pm (GMT+8).


Gbp vs Usd (Daily) - At this moment, price already performed a pullback scenario from the upper green trendline. Therefore, I believed more likely market in progress to perform subwave 4 in yellow before expecting for another bullish continuation trend either to complete a truncated subwave 5 or an impulsive subwave 5. Or, otherwise, a further breakout towards the yellow/white critical line would indicate that perhaps market is already in progress to perform major wave 5 in magenta. Good luck and happy weekends.

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