7pasos

The break of the 0.84 is key for bears

FX:EURGBP   Euro / British Pound
394 1 0
9 Days ago I published a chart where stated that if this was an impulse to the down side, the movement should accelerate.
Well that was not exactly what the price did, but yet as well have not prove the contrary.
As you can see in this follow up the down side movement since then still forming an impulsive wave with 5 clear movements, followed by a clear zigzag as well too.
And afther the ((A))((B))((C)) pullback a some what fast fall, this all together makes a case for an still down impulse that should accelerate.
Of course as far as now the major obstacle is the multiple times touched support arrownd 0.84 once breaking this zone the chances for a fast down side movement improve noticeably.
Well as we said the 0.8432 was the key, the lack of power form the bears to break it resume the up side movement. so whats going on now?, well is possible thet the correction became more complex and we still in wave ii) perhaps doing a standard flat it this is correct we should see soon the end of it at levels arround the 0.8630
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