GBPUSD alternative view might be the most likely

25 août 2016

My alternative outlook for GBPUSD seems more and more reasonable so I want to warn those who are long from the previous calls. We had a good run but it just doesn't look good enough for me for that wave C higher. It still can happen but I like to have a plan B when I need one. To me that alternative scenario will be a triangle for GBPUSD comparable to EURUSD.
If we see the break lower I expect at least to see a test of 1.3050ish. Then we will reevaluate whether we need another E leg higher or not.

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26 août 2016

Note

Moved lower as expected, if it consolidates then look for sell towards at least the yellow zone.