FX_IDC:GBPUSD   POUND STERLING / US DOLLAR
85 2 3
Although fundamentals, experts and banks forecast the pound a lot lower from here my analysis at least suggests that the pound could be finding a bottom in the nearish future. Of course. my projected wave 5? could just as easily be the end of of wave 3 down.
ezodisy
8 months ago
completely agree. Wave 5 is shaped as an ending diagonal.
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TAJ249 ezodisy
7 months ago
The problem with the ending diagonal count is that wave iii would now be the shortest wave breaking a rule of Elliot. This means to me that it is more likely the 3rd wave down or about to begin the 5th wave of larger 3rd wave and the pound has a fair way to decline yet (if that makes sense?).
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