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.


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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