EUR/GBP

All good so far: the pair actually turned down at 8287 as opposed to 8279, so only 8 pips out. It's now 8195 as I type so fast approaching the 50% extension at 8191 and 61.8% at 8168, so somewhere in this area expect a retrace to form wave B before the push down to 8094 > 8049 to form wave C...... I hope

dl.dropboxusercontent.com/u/7238706/eurGBPhr.png
EURGBP

First question: will wave B complete at 8279>81? A look at the hourly chart shows this level is represented by good resistance and the 61.8% fib extension of 8151 > 8261 from 8215. If the level holds this will be a good place to enter short.
Second question: how far will it drop?
dl.dropboxusercontent.com/u/7238706/EURgbpDaily.png
Well, the zone to be looking at, from a fib perspective, is between the 100 & 123.6% of the extension of wave ((a)) - somewhere between 8052 > 7981. There is support down there at 8036.

The next thing to say is to please take all this with a fairly large pinch of salt. It all makes sense but my track-record on forex has been, well, not too good to date I'm posting this as much for my own re-assurance as for information of the interested on the BB. So, if this helps, then I'm genuinely pleased. If it's a pile of 'brown-stuff' i apologise but it has served a purpose

Ooops! Looks like I got that completely wrong - back to the drawing board!!

Possible short to support at 0.8249 before recommencing the move north. It will be decision time however as this could equally move south and my coding will then require moving to an alternate....whatever, the short looks good....

dl.dropboxusercontent.com/u/7238706/eurGBPhr.png
....suggest stop at 0.8330

potential 123 low breakout
Long @ 0.8290
SL is below 3

daily


weekly

Happy New Year all fellow CV members

Apologies for not contributing for a while as I have been away!

Long @ 0.8319
SL @ 0.8277