Thursday, October 14, 2010

Gbp vs Jpy 1H

Preferably, I believed market have a potential to perform a bearish continuation trend scenario either to perform subwave b in yellow or wave 5 in magenta. A valid "rising wedge" pattern and followed by a breakout towards the lower yellow trendline would bolster to this scenario. Otherwise, we may see a strong bullish trend to perform subwave 3 in white. Happy weekends and good luck.