GBPUSD EW Anaysis - pdater, wave iv WXY

23 Jun 2015

I published an impulsive count for GBPUSD yesterday expecting higher highs, but following any typical zigzag correction always looms the possibility that there will be a double, or triple (max). This is the case for GU, and to add to the evidence that this will be a reversal point sentiment for GU has become severely net short since wave c of Y. The form is good and the RR is excellent buying the breakout. Expect negative US data at 12.30. I would only trade this on a a clear breakup of the upper trend line.