EURGBP made an impulse higher by means of 5 waves (red count). This will therefore present a nice trading opportunity for next week. We need to let price settle and consolidate before we buy the continuation which could either be a wave 3 or wave C. I will update this pair next week once the consolidation starts so we can pinpoint an entry.
this pair moves madly today, how will you suggest the next? regards
TimStuyts
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I agree with you and stayed away of this pair because I don't like the structure at the moment in terms of in what part we saw the bullish acceleration. Nevertheless, short term we see a bearish impulse and if it consolidates I would be looking for a sell continuation for at least a 3 wave structure lower.