Fundamentally it's hard to come up with a reason why the Euro might start to climb against GBP but long term monthly chart clearly shows we're right at the lower channel support, each of the previous times the EUR has regained 10 cent approx
One further break lower for EuroDollar left to come following completion of current triangle and that could be it for the Dollar Bulls! Short for now but most of this correction from 1.6036 is complete.
The larger 3rd wave began back in March 2009. It's now clearly in the very latter stages of an ending diagonal pattern with perhaps one more high to go before retreating back to the start of the diagonal i.e. 4,100 approx. We know this pattern emerges in the fifth wave position, therefore I make present position to be very close to the top of the 3rd subwave of...
