Sunday, October 18, 2009
Gbp vs Jpy and Gbp vs Usd - Market Overview
Gbp vs Jpy (1H) - At this moment, I'm expecting for a bearish retracement trend to perform corrective wave 4 in magenta before expecting for another bullish continuation trend either an impulsive or a truncated wave 5 later. Otherwise we may see another bullish rally to perform an extension of wave 3 or wave 5 is already completed and we shall see a bearish reversal soon (white).
Gbp vs Jpy (Daily) - At this moment, I'm looking forward for another major bearish continuation trend once wave 2 is completed either in white or magenta. A pullback scenario from the major upper green trendline would bolster towards this scenario. Otherwise, please be careful for a truncated major wave 5 in yellow which indicates that market is already in major bullish reversal trend in a, b and c.
Gbp vs Usd (Daily) - Preferably, I'm looking forward for another bearish continuation trend scenario either in yellow or magenta. A pullback from the major upper green trendline would bolster towards this scenario later. Otherwise, please be careful for another bullish continuation rally refering to the alt count in white scenario.