GBPUSD

Another way of looking at this is that 159.09 was the low of wave 4 with wave 5 up to come: dl.dropbox.com/u/20815047/USDGBPdaily26_10_12.gif

Note how the wave 3 top was close to the 161.8% extension of wave 1 per the discussion on the Elliott Wave thread. Also, 159.09 was just below the 38.2% Fib of the wave 3 move, just as expected from EWT.

Nice chart really.

hi KI
Thats not my prediction...Its barclays.
If you look at that chart its basically saying the same thing in the short term as yourself. Its showing a rally to 165 then a correction.

This is the chart of the average of all the brokers. black being barclays and red being the average





dl.dropbox.com/u/4899609/barclays%20pred...for%20gbpusd%201.png

Hi Remo, interesting forecast on cable. Subject to a report out from DeMark, which forecasted this week the S&P would peak at circa 1480 in the next couple of weeks. If this were to happen then cable could push on to 165.

From my point of view, the double top needs to get taken out with conviction @ 16308. The trading range on the daily sits at 15910 (low) 16308 (high. At present the price sits in the middle of these two (gamblers trade).

For the short term, a new HH needs to develop on the daily closing above 16177. Atpresent this is a pullback only and should be treated as such. KI.

This is there prediction for the GBPUSD over the next few months.

Just showing you some of Eikons functionality


dyor
remo

61.8 fib 15912 too for an extra bit of hindsight.

dl.dropbox.com/u/4899609/gbpusd24thoct.png

This is a classic example of a perfect entry.
This tested the breakout point perfectly then bounced.





and i missed it...dohhhh

just thought id show people what i look for



remo