GBP/USD (Monthly Wave Analysis, March 2008)


for example, forex

The current variant of wave counting


For survey wave counting of GBP refer to The Review of the Bigger Time-Frames (Annual Wave Analysis, 2008) and the article USD. A pause or the end of the black streak?.

Figure G1.Wave counting on the daily chart. Variant 1.
Figure G1.Wave counting on the daily chart. Variant 1.

Downward impulse A? may be completed. In this case the weakening of the pound may be synchronous with the other currency pairs under consideration.

Figure G2. Wave counting on the daily chart. Variant 1-2.
Figure G2. Wave counting on the daily chart. Variant 1-2.

But it isn’t ruled out that only wave [iv] of A is completing. In this case forming of a downward ending wave [v] in the shape of an impulse or a diagonal triangle should be expected.

For more detailed wave counting on smaller time-frames and parameters of possible trading plans refer to daily reports.

Reference


Dmitry Voznuy
forDmitry@yahoo.com

March 2, 2008

When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory.




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