Wednesday, April 21, 2010

Gbp vs Jpy and Gbp vs Usd - Market Overview

Gbp vs Jpy (1H) - At this moment, I'm looking forward market to perform a right shoulder for the "Head and Shoulder" bearish reversal pattern. Therefore, advisable to look for a possible bearish entry if its do happen. Otherwise, please be careful any breakout towards the aqua critical line (R3).

Gbp vs Usd (Daily) - Preferably, I believed market in bullish retracement trend either to complete wave 4 in magenta or yellow. Therefore, I'm expecting for another major bearish continuation trend scenario either refering to the alt count in magenta (4 already completed) or in yellow (4 still in progress). Otherwise, please be careful for any possibility towards the alt count in white scenario or a breakout towards the critical lines. Good luck.