British Pound forecast as of 11/06/2009

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

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

British Pound forecast as of 10/27/2009

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

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

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) 2^nd wave and is in the process of  ZZ 3^rd wave in the range of 1.7036 – 1.9617 between December 1^st and May 11^th .

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

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) 2^nd wave in the range of 1.5059 – 1.6298 between September 11^th and December 30^th .

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.

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) 2^nd wave in the range of 1.4804 – 1.6160 between September 21^th and January 14^th .

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.

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) 2^nd wave in the range of 1.5059 – 1.6298 between September 11^th and December 30^th .

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.

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) 2^nd wave in the range of 1.5059 – 1.6298 between September 11^th and December 30^th .

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

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) 2^nd wave in the range of 1.5059 – 1.6298 between September 11^th and December 30^th .

Market move above 1.70 makes it more likely that ZZ 3^rd 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 09/08/2009

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

Market move above 1.70 makes it more likely that ZZ 3^rd 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) 2^nd wave in the range of 1.5059 – 1.6298 between September 11^th and December 30^th .

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

* 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.