I reviewed the wave counting.
Thus, we consider three time periods:
EURUSD is very similar to the GBPUSD .
While EURUSD updated their Minium, GBPUSD only the first wave forms
Look at the GBPUSD (links below)
I assume that:
- Wave (W) has taken the form of a truncated ABC or (W)
- Wave (X) has taken the form of a double three
- Wave (Y) takes the form of a ABC.
However, (W) (X) (Y) forms a double .
According to the rules of a double zigzag: Wave (W) and wave (Y) are the only zigzags. Wave (X) can take the form of any correctional model.
Given the size and depth of all the waves I think this layout is most likely.
With the development of the upward trend can be seen as the main option is correct markup. If the price will rapidly grow rapidly, it would mean that (W) (X) (Y) have been completed and a new uptrend in the form of wave
A wave of the (Y) takes the form of a impulse.
Possible price reversal in the arae of 1.077 (176.6% of the FIB )
=== H4 ===
How much will a deep fall, is not yet known.
Indicators oversold, gradually formed divergence. But a clear signal for the purchase of none.
A further drop to 1,070 (50% or
But, it is possible and turn with the current prices. But I doubt it.
Just compare the difference between these two graphs, and you will see that the histogram is better, quality.
The only single fact that I wanted to emphasize was that this kind of divergence on the Elliot wave oscillator/awesome oscillator or even MACD, as you can see in the daily plot of Crude Oil and as you will see on that of the EURUSD, signals a third wave.
The main difference between your view and mine is that in the next few weeks (I suggest) we will have another lower low on the EU, while you predict with your ABC that the present lower low is the last one for the next many months.