EURGBP new impulse
Updated
EURGBP is unfolding in a complex structure. We see many overlaps which might indicate a correction is in progress. However I like another scenario, a scenario where wave 4 (daily chart) is in place just below 0.84. The overlaps might show the start of wave 5 by means of a leading diagonal.
It is too soon to tell but several characteristics point into that direction.
Nevertheless I will be watching for a bearish reversal and if that is corrective we should buy EURGBP for a move towards 0.9230.
If the bearish reversal will be impulsive I will simply adjust. Updates will follow and keep in mind the arrows are indicative and showing my ideal buy scenario for the moment.
It is too soon to tell but several characteristics point into that direction.
Nevertheless I will be watching for a bearish reversal and if that is corrective we should buy EURGBP for a move towards 0.9230.
If the bearish reversal will be impulsive I will simply adjust. Updates will follow and keep in mind the arrows are indicative and showing my ideal buy scenario for the moment.
Note
Note
Keep an eye on the bigger picture guy's. I'm still looking for a wave 5 until proven otherwise. So wait for a clear set-up and enjoy the wave.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.