As you can see, my current working assumption is that we are almost (if not done) with wave 4 magenta ! There are a few interesting points at this level ! GBP retraced 50% of the previous 5 waves leg down ( iii magenta), we have wave w=y and we are a the level of the previous wave 4 of one lower degree ( a common occurrence in Elliottwave analysis). We also have a shooting star candle for the last trading day ! IF this count is the correct one THEN GBP should start to go down very soon all the way down to 1.3835 and below !!!
Thanks in advance for any comments or feedback ! Best regards
Thanks in advance for any comments or feedback ! Best regards
