The GBPUSD or Sterling Pound has been trading in an narrowing range since late 2008. So what is the medium term outlook for this currency pair? From an Elliott Wave perspective, we seem to be developing the ‘E’ wave within a triangle. Once this final upmove is finished, we should get ready for a significant down move in Cable, or the Sterling Pound. Now I have used a weekly chart to figure out the end of the E wave.
Maybe you could do better? Look at the daily chart and use the method I have taught in the book ‘Five Waves to Financial Freedom’. Send me your comments by posting on the blog and I will publish them. If you get the top right, you can showcase it to your friends. Share it with the world even if you think the Sterling Pound is going straight to the moon! After all, anyone can be wrong, and you could be right! Happy Holidays…..