So making any call on this is likely to be hazardous. It has been perplexing me so far and has been very hard to put satisfactory labels on the price action from the last major low.
However, I think it seem relative clear enough now and probable that has given me a reasons to publish it.
Most of the details are on the chart, which suggest that last leg wave 5 could develop with upside target being 1.15-1.155 zone may be even take out stops just above that.
If the price action completes the anticipated path then trade could be in the making and might prove to be very fast with longer term trade to consider at the top.
Also, if that happens then likely Greece's issue will be temporarily resolved or such that might warrant a relief rally, nothing more.
Anyway as always, do your own analysis for your trade requirement.
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Definitely worth keeping an eye on. I'm trading EURGBP short for instance, and with the relatively not so good public sector loan figures (and the leading diagonal's fifth wave conclusion...) price corrected down.
I expect it to regain bullish momentum next week, if the news are good for GBP (and we don't drop below the 1.5225 mark)