Category: British Pound

British Pound forecast as of 11/06/2009

GBPUSD –Elliott shows that market is in the process of  ZZ 3rd wave in the range of 1.7036 – 1.9617 between December 1st and May 11th .

Market move below recent lows means that ZZ 2nd wave is not complete after all.

GBPUSD5 091108 10.02.36 108.5A

British Pound forecast as of 10/27/2009

GBPUSD –Elliott shows that market finished “Zig-Zag” (ZZ) 2nd wave and is in the process of  ZZ 3rd wave in the range of 1.7036 – 1.9617 between December 1st and May 11th .

Market move below recent lows means that ZZ 2nd wave is not complete after all.

GBPUSD5_091027_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

British Pound forecast as of 10/19/2009

GBPUSD –Elliott shows that market finished “Zig-Zag” (ZZ) 2nd wave and is in the process of  ZZ 3rd wave in the range of 1.7036 – 1.9617 between December 1st and May 11th .

Market move below recent lows means that ZZ 2nd wave is not complete after all.

GBPUSD5_091019_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

British Pound forecast as of 10/13/2009

GBPUSD –Elliott shows again that market is in the process of  “Zig-Zag” (ZZ) 2nd wave in the range of 1.5059 – 1.6298 between September 11th and December 30th .

Market is in the likely time and price area; hence the move could be over anytime. At the same time, there are quit a bit of room to move both price and time wise, so nothing is set in stone.

GBPUSD5_091013_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

British Pound forecast as of 10/06/2009

GBPUSD – With slight difference, Elliott shows now that market is in the process of  “Double Zig-Zag” (DZ) 2nd wave in the range of 1.4804 – 1.6160 between September 21th and January 14th .

Market has touched the likely time and price area; hence the move could be over anytime. At the same time, there are quit a bit of room to move both price and time wise, so nothing is set in stone. If the market does brake the recent low that it has tried in last several weeks, it is more likely that it will continue lower.

GBPUSD5_091006_Blog

Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.

British Pound forecast as of 09/29/2009

GBPUSD – No change -  Like last week, Elliott shows that market is in the process of  “Zig-Zag” (ZZ) 2nd wave in the range of 1.5059 – 1.6298 between September 11th and December 30th .

Looking for recent market action, many things can be read out from the chart – That market is already in the likely price and time area; at the same time Elliott shows that the middle wave for the wave down is not even completed its own middle wave, in which case market will move up before moving down to complete the wave down. So in conclusion, market can move up, down, sideways and our current combination would still remain valid.

GBPUSD5_090929_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

British Pound forecast as of 09/22/2009

GBPUSD – No change -  Like last week, Elliott shows that market is in the process of  “Zig-Zag” (ZZ) 2nd wave in the range of 1.5059 – 1.6298 between September 11th and December 30th .

Looks like the ZZ 2nd wave is “Flat” that is in the process of 2nd wave up which might even move market above recent highs without invalidating the current pattern.

GBPUSD5_090922_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

British Pound forecast as of 09/15/2009

GBPUSD – No change -  Like last week, Elliott shows that market is in the process of  “Zig-Zag” (ZZ) 2nd wave in the range of 1.5059 – 1.6298 between September 11th and December 30th .

Market move above 1.70 makes it more likely that ZZ 3rd wave up has started.

GBPUSD5_090915_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

British Pound forecast as of 09/08/2009

GBPUSD – Like last week, Elliott shows that market is in the process of  “Zig-Zag” (ZZ) 2nd wave in the range of 1.5059 – 1.6298 between September 11th and December 30th .

GBPUSD5_090908_Blog

Market move above 1.70 makes it more likely that ZZ 3rd wave up has started.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

British Pound forecast as of 09/01/2009

GBPUSD – Like last week, Elliott shows that market is in the process of  “Zig-Zag” (ZZ) 2nd wave in the range of 1.5059 – 1.6298 between September 11th and December 30th .

Market move above 1.70 makes it more likely that ZZ 3rd wave up has started.

GBPUSD5_090901_Blog

* Click on chart to view larger image and print.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

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