Thursday, May 26, 2011

Gbp vs Jpy & Gbp vs Usd - Market Overview

Gbp vs Jpy (1H) - At the moment, I'm looking forward for a potential of bullish continuation trend scenario refering to the alt count in aqua. Otherwise, a breakout toward the major lower red trendline would favour toward the alt count in magenta scenario.

Gbp vs Usd (Daily) - Preferably, I believe market in progress to complete corrective wave b either refering to the alt counts in aqua (Head and Shoulder) or in yellow (Double Top) before expecting toward a bearish reversal trend scenario to perform corrective wave c. A potential pullback scenario either from Fibo 50%@61.8% or aqua/yellow critical line is still yet remain to be seen. Happy weekend and good luck.