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Figure G1. Wave counting on the weekly chart.
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In the latter article it was supposed that if the GBP/USD pair rises synchronously with other major currencies the preferred scenario will be further forming of upward impulse (C) in the form of an impulse or diagonal triangle 5 of (C).
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Figure G2. Wave counting on the daily chart.
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Wave counting on the daily time frame doesn’t rule out the completion of either wave (i) of [iii] of 5 of the impulse or wave [i] of 5 of the diagonal triangle. If this is the case correction (ii) of impulse (or [ii] diagonal triangle) may last till the second half of April.
The critical level is the ending of the supposed wave [ii] of 5 (1.9361) and the ending of the supposed wave 4 (1.9336).
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 30, 2008
When using any part of the article for publication or analytical materials reference to the author and Alpari is obligatory.
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