All Entries in the "GBP" Category
Elliott Wave Analysis of GBP/USD 8Aug2010
Are we going to see a test of 1.6170 directly? and If we do get there, will we get a 10-big figure decline from there? These are some of the questions that the Wavetimes watcher must be having. Elliott Wave Analysis of GBP/USD suggests that so long we we stay above 1.5915 now, there is [...]
Medium Term update on GBPUSD
I have no problem discarding a wave count that has served us so well since March of 2009. Likewise, the count I am presenting here will also have a life-span. Once its time comes, we will have to let it go too. The most important consideration is whether the waves are consistent with the underlying [...]
Elliott Wave Analysis of GBP/USD 1 Aug 2010
In my recent Elliott wave analysis of GBP/USD, I had suggested that 1.5655 is an important level, and if we fail there and come below 1.5530, perhaps we can kiss the Sterling Bulls a fond goodbye. But the love story is far from over, it looks. Goldman Sachs has put out a note (published in [...]
Sterling Pound Elliott Wave Analysis 29 July 2010
The market is a great teacher. One has to take victories with the humility that next time one could be terribly wrong. Have we nailed the Sterling correctly yet again? Perhaps. But we will never know until the rest of the market is convinced. Right now the top has held quite nicely. But remember that [...]
GBP/USD Elliott Wave Analysis 28 July 2010
The Medium Term Elliott Wave Analysis of GBP/USD posted here on 11th May (when Sterling was trading at 1.4836) suggested that we will first dip to 1.4226 and then rally to around 1.5500. The actual low was 1.4230 and today we are trading at 1.5590 levels. A couple of days I had prepared the chart [...]
Elliott Wave Analysis of GBP/JPY Sterling Yen
The Sterling Yen cross, or GBP/JPY has been a bit difficult to trade for most people in recent weeks. Clearly the easy-money days are gone. Yet, one can hardly recommend a buy here. The sentiment is overwhelmingly negative and we don’t know how much exposure UK banks have to the smaller Spanish Banks. Using Elliott [...]
Medium Term Outlook for Sterling Pound GBP/USD
I would like to start by pointing to this link dated Septermber 27, 2009, where I had reiterated the bearish call for Sterling Pound, GBPUSD. Today, I was shown a research report from Morgan Stanley where they are going short the Pound here at 1.4850 with a stop at 1.5100 for a move down to [...]
Outlook for Sterling Pound GBP/USD
After the Pound broke past the resistance at 1.5157, there was little to hold it back. The target appeared to be 1.5615/20 levels, and the attached two charts will testify why I felt like that. In fact, I had even emailed some of the old faithfuls this morning that the time for the bulls may be [...]
Short term outlook for Sterling Pound
Now that the Sterling Pound has almost reached its short term objective above 1.5100, it is natural to wonder what next? If we break above 1.5110, then there is a chance to take a look at 1.5157, which marks a 61.8% retracement level of the prior drop. Selling near there is a low-risk trade. However, [...]
GBPUSD Short Term Outlook 25 March 2010
GBPUSD is likely to experience a bout of correction towards 1.5100 once we complete the fifth wave between 1.4780 and 1.4855
GBP/USD complex correction
After being held back by 1.5065/85 level a few times, the Pound has broken higher, indicating the complex correction in GBP/USD is not over yet.
GBP/USD short term targets met
It all seems so simple after the move!
But fortune does favor the brave. Go back to the last two days’ updates and see how you could use Elliott Wave analysis to trade effectively. Ramki
Short term Sterling outlook
Although GBP failed at the first resistance of 1.5020 area yesterday and came off to 1.4873, there still exists a good chance to revist that area soon.
Sterling Pound Short Term Outlook: Update
After the fifth wave extended as anticipated, we should now be ready for a snap back towards 1.5020/1.5070 in GBP/USD
GBP/USD update for short term traders
Short term traders of GBP/USD beware of a sharp recovery to 1.5070 once the 5th wave extension is over.