EURGBP seems to be developing a Running Triangle in Minute IV (red) position, with its sub-wave Minuette (e) (pink) remaining and not yet finalized.
Should EURGBP reverse to the up-side in a ''three", then the converging and the possible triangle connecting line from Minuettes (a) & (c) would be closely watched for possible sell set-ups.
Scenario would be invalidated if a sharp bearish move would occur beyond Minuette (b) of the Running Triangle.
Should EURGBP reverse to the up-side in a ''three", then the converging and the possible triangle connecting line from Minuettes (a) & (c) would be closely watched for possible sell set-ups.
Scenario would be invalidated if a sharp bearish move would occur beyond Minuette (b) of the Running Triangle.
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possible bounce off the connection line of the triangle, to be watched further
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EURGBP bounced off the lower converging line from the Running Triangle.
Up-side should reflect a ''three''.
Wave Count has been revised as time cycles do not agree with the triangle forming in a IV wave position because it takes too long and Law of Alternation comes in with time-wise conflict.
We are currently in a Minor B from a Larger Degree (bigger correction) Intermediate (Y) from the overall Primary B Complex Correction.
Up-side should reflect a ''three''.
Wave Count has been revised as time cycles do not agree with the triangle forming in a IV wave position because it takes too long and Law of Alternation comes in with time-wise conflict.
We are currently in a Minor B from a Larger Degree (bigger correction) Intermediate (Y) from the overall Primary B Complex Correction.
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Primary Degree Correction:
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still Bullish:
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EURGBP could start a Bullish Wave, 0.88 should be watched closely for possible Support.
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