Elliott Wave Free Forex Signal

Currency pair : GBP/USD.

GBP/USD Elliottwave Signal :-

TimeFrame = Daily  for Medium Term with Medium High Risk Trade

Signal = Sell stop below 2.0820 area.

Risk Reward Ratio = 3.5+ (Medium High risk)

Our First target profit at 2.0570 area..

Stop Loss at above 2.0900 area.

Great Britain Pound Elliott wave Analysis :-

Its seem that Cable has extend their wave up to 261.8% of fibonacci expansion.This is one of the most strongest resistance for medium term trades.Thus we expecting a medium correction in very near future, possible of this week.

If cable failed to climb higher than 261.8% fibo level at 2.0900 area we expecting a correction a-b-c towards high of sub-wave i. Then only it will continue to climb higher towards 2.1000 area.This is what we expecting from our medium term analysis.

This is the latest illustrated medium term GBP/USD counting with Elliott wave analysis :-

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This entry was posted on Monday, November 5th, 2007 at 9:08 am and is filed under Elliott Wave Signal GBP-USD.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.