GBPUSD--1500 Pips...3rd Wave Down Post 2nd Wave till 1.5000

24 Jun 2016

Cable--I warned that we are moving up in 2nd Wave & maximum upside expected was 1.5130--1.5150 or maximum 1.5500--1.5550 which will retrace 80% of 1st Yellow Wave....This Downside Explosive Movement confirmed that 3rd wave is under play...As per last update--"GBPUSD-Possible Jump in 2nd wave till 1.5150 "-- I warned do not get trap on long side of pound....Look it has unfolded in similar fashion.....In Dollar Yen as well we kissed our target zone -106.75 before crashing down & going to 98 levels...105.05 was crucial resistance which one should have taken as important support on polarity reversal basis-where support turns into resistance & resistance turns into support. Regards, Abhishek H.Singh, CMT