Hey Monk, great to see your perspective. I'm overall bearish on EURGBP. However, the GBP has strengthened a lot lately (even though so did the Euro at the same time, so it's not easy to understand which currency in the EURGBP pair will have a stronger retracement). The way I see it is that there is a likelihood that the EURGBP pair retraces to the 0.90 levels as you mentioned and then will go down to the 0.76 levels. I am sharing my chart here with you
... I think I'd rather wait and see what happens. Will certainly short at 0.90 levels! Tell me what you think.
yup... use abc's instead :) have a read... http://www.tradersedgeindia.com/elliott_wave_theory.htm#complex http://www.esignalcentral.com/university/get/getManual/eSignal_Manual_ch9.pdf http://www.elliottwave.com/tutorial/Lesson3/3-5.htm http://www.mql5.com/en/articles/260