jdemunter
Long

Gbp/Usd : Bottom?

FX:GBPUSD   British Pound/U.S. Dollar
On the weekly chart we can see that from the 1.72 top there are 7 waves down. 7 wave patterns are corrective. The EW corrective wave pattern here is a double three. Inside this double three, waves (W) and (Y) are double threes on their own. Interesting to see is that all waves Y ( on 2 different degrees ) are 76.4% of the waves W before them. Beware when you decide to go long here because the trend is strong to the downside and big surprises like the 2 big spikes down can destroy your account, protect yourself against this. I like buying call/put options when picking tops or bottoms. Best of luck !
Interesting take. Thanks for posting.
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jdemunter tomj2417
Thank you for your comment.
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