GBPUSD - BIRDS EYE VIEW - Wave E of Wave 2 In Progress.
Similarly to the EURUSD the Pound is also in the early stages of a Wave C Decline. (See EURUSD in related ideas.)
The AriasWave methodology enables the analyst to place impulsive and corrective waves into their respective baskets.
In this case we are in a Wave 2 correction since 2009.
Using the logic provided by this methodology, I can tell you that the Pound has far more weakness than the EURUSD because of the way the larger Red B Wave Unfolded in comparison to the Red A Wave. (Not pictured here.)
Even without seeing those previous waves, look at the C Wave recovery compared to the C Wave recovery in the EURUSD. This one is much weaker.
Right now we are in the midst of Wave E of Wave 2. I will post a lower degree chart shortly.
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The AriasWave methodology enables the analyst to place impulsive and corrective waves into their respective baskets.
In this case we are in a Wave 2 correction since 2009.
Using the logic provided by this methodology, I can tell you that the Pound has far more weakness than the EURUSD because of the way the larger Red B Wave Unfolded in comparison to the Red A Wave. (Not pictured here.)
Even without seeing those previous waves, look at the C Wave recovery compared to the C Wave recovery in the EURUSD. This one is much weaker.
Right now we are in the midst of Wave E of Wave 2. I will post a lower degree chart shortly.
Please LIKE and FOLLOW to get notification of updates and future posts.
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