Gbp usd inside bare

D'oh! Missed my long entry by 0.0002....time to move on!

So they have. Hmmm...interesting!

Jackozy, look at your chart from the start of the run down from the top, all four main pullbacks have gone back and reversed at the 23.6% (using my method) Bear fibbo. KI.

Hi Rossy,

I took the short at the trendline after consideration when I posted this on Thursday:





dl.dropbox.com/u/20815047/USDGBPdaily25_10_12.gif

I've since added a wave count to the chart as follows:




dl.dropbox.com/u/20815047/USDGBPdaily29_10_12.gif

I think it's bullish and due a wave 5 up so I'll be looking to go long at the 61.8% Fib of the last rise up from the trendline support which is also the round number support of 1.60 with a stop below the 1.597 support.

Anyone short on this today?

I know the trend line was hit Friday but it also provided an inside bar?
No chart due to iPhone. 21sma down, low 16080 Friday.

Gl RMc