EURGBP little higher then down
EURGBP is trailing higher and in the short/medium term I see 2 scenario's as likely. But both scenario's point towards 0.871 where we most likely will see a significant reaction.
The 4 hour time frame shows these scenario's:
We will either see red wave 3 finish at 0.875ish, this however will result in wave 3 =100% of wave 1 which means that wave 5 will most likely be extended. Or we see a flat correction in progress (abc in green), this might unfold in the shape of an expanded flat and therefore overshoot the high of wave 3 in blue.
This will give wave 3 in red more room to extend towards 0.90 and likely higher.
I'll update this post with lower time frames set-ups.
timstuyts.com
facebook.com/wwwtimstuytscom
The 4 hour time frame shows these scenario's:
We will either see red wave 3 finish at 0.875ish, this however will result in wave 3 =100% of wave 1 which means that wave 5 will most likely be extended. Or we see a flat correction in progress (abc in green), this might unfold in the shape of an expanded flat and therefore overshoot the high of wave 3 in blue.
This will give wave 3 in red more room to extend towards 0.90 and likely higher.
I'll update this post with lower time frames set-ups.
timstuyts.com
facebook.com/wwwtimstuytscom
Note
Let structure show us what to do, impulse-consolidation-impulse.
Ideally we see a last leg higher towards 0.873 or slightly higher
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.