C wave impulse is due and should break above the upper boundary. The major bearish trend continuation is expected to commence with the C wave completion. However, there is also the possibility for the correction to continue longer, even after the completion of the ABC structure. But the important takeaway from this Elliott wave count is that any long trades should have very small targets and the bearish side is not yet ready for short trades.
As they say, a picture is worth a thousand words. Perhaps a picture is worth thousands of dollars too, if you know what I mean. Although there are several ways you can label this EURGBP weekly chart, the most viable (I presume) interpretation is given in the above image. I have to say, this is … Read more