Daily Bars
Prepared by Jamie Saettele
“Since price has failed to accelerate in a timely manner (which one would expect if the decline were a 3rd wave), I am leaning towards the idea that the decline from 13340 is corrective. The next few days should offer clarification.” Yesterday’s advance suggests that an important low is in place at 12590. The rally may be the beginning of a C wave that will exceed 13340. The next few days should present a long opportunity. 12730 is support.
British Pound Decline May Extend Below 15000
Daily Bars
Prepared by Jamie Saettele
The British Pound has not found the support that the Euro has enjoyed. Watch the channel for support as well as 15250 and 15125. The pattern of the decline from 16000 is not clear-so the decline is probably not complete. One possibility is a double zigzag. The 2 legs would be equal at 14980, which is defended by the July 12th low.
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