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GBPUSD Event Risk Presents Opportunity

GBPUSD Event Risk Presents Opportunity

2012-08-14 20:24:00
Jamie Saettele, CMT, Sr. Technical Strategist
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240 Minute Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD Event Risk Presents Opportunity

Prepared by Jamie Saettele, CMT

15800 and 15900 remain levels of interest but I want bring attention to another possibility. That is, wave 2 may be complete with a possible truncation. The implications would be for a sharp decline from below 15777. It makes sense to keep this count handy given bearish implications from the EURUSD pattern (3 waves up, even if part of a larger correction).

LEVELS: 15577 15609 15650 15700 15728 15777

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