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.


Gbp vs Usd (Monthly) - More likely, I believed market in progress to complete corrective wave b either in magenta or yellow before I'm expecting market to perform a major bearish continuation trend scenario to complete subwave c. Good luck.