Elliot Wave Signal 06 September 2007

06 Sept 07

Great Britain Pound vs US Dollar

Its being a while since our last Elliott Wave Signal.We see some profit form our last analisis and now we are ready for new Cable Elliott wave signal.

Currency pair : GBP/USD.

GBP/USD Elliottwave Signal :-

Currency Pair = GBP/USD

TimeFrame = 4Hrs

Signal = Limit Sell signal at 2.0250-2.0270 area.

Risk Reward Ratio = 5.X

Target for Submicro Wave iv at 1.9945 - 1.9965 area.

Current Market price is at 2.0193,we assume there is still a space in upper resistance at 2.0270 area which can be label as wave v.Still if Cable failed to break previous high at 2.0231 we could assume yesterday high at 2.0219 will be a high of corrective wave b with a target wave c at bottom of possible wave 2(see pic below).

The could be a three wave down(a-b-c) toward our wave 2 down target.

From: Elliot wave signal prognosis

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