British Pound Technical Outlook

Published March 11th, 2009 - 06:50 GMT
Al Bawaba
Al Bawaba


A B wave low may be in place now.  “The count that I am working with now treats the rally from 1.35 to 1.4990 as wave A of a flat (flats have subwaves 3-3-5).”  Wave B is in 3 waves and waves a and c of B are roughly equal (a common occurrence).  Exceeding 1.3954 would be the first sign that a low is in place.