FX:EURGBP   Euro / British Pound
214 1 15
EURGBP             made a long waited for correction from the October highs. We might have seen the bottom for an ABC correction by means of an ending diagonal for wave 'v'. For this ending diagonal to be valid according to the Elliott Wave Principle price is not allowed to break below the horizontal dotted line. If it does this doesn't mean price can't reverse any time soon, it only invalidates the (i)-(v) ending diagonal count. However a reversal out of this zone boosts the probability of at least a test of 0.87. If the correction is over altogether we will most likely see a break above the October highs.

Safe trades and updates will follow.

Comment:



Watch for a flag pattern for buy as described in original post
Interesting. Thanks for posting.
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