11 - 19 - 08 GBP/USD (short term)

Falling from about 2.1160 has the tendency to test 6/2001 low 1.3680 level in following weeks.
However, short term the downside moving could be limited above 1.4000, though the wave structure from 9/25/08 high 1.8667 or 10/14/2008 high 1.7630 has not been fully clear yet.  One of likehoods, price from 10/14/2008 high 1.7630 is to develop an ending diagonal with contracting variety.



reference attached chart for short term movement

[ 本帖最后由 sharkeater 于 2008-11-19 08:46 编辑 ]

谢谢老师

高手

NB

short term,
GBP/USD looks bullish;
GBP/JPY  looks bullish too;
EUR/GBP looks bearish;


It is better to
1) close or hedge short GBP positions; and
2) suspending the trade of selling GBP in short term, at least within following hours.

[ 本帖最后由 sharkeater 于 2008-11-20 21:34 编辑 ]