Description
⋅ GBPUSD in a correction mode from 2007 onwards.
((0)) = 2.11919 starts the correction of GBPUSD from 2007.
((II)) is a symmetrical triangle. This triangle makes a false breakdown.
(C) is making the false breakdown to a correction.
Here why (II) became a triangle ? Ans : We understand that the sudden/deep/sharp (I) correction generally brings a ripple of triangle shape.
Here (II) is bringing sense that, a big short is on the way. But it is a false one and makes (C).
Then the down confirmation continues after (C) is complete.
Then A zigzag correction started which is bigger correction down. A possible range for T1/T2 to 1.00514.