EURGBP - Running Triangle Pattern
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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.
Nota
possible bounce off the connection line of the triangle, to be watched furtherNota
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.
Nota
Primary Degree Correction:Nota
still Bullish:Nota
EURGBP could start a Bullish Wave, 0.88 should be watched closely for possible Support.Nota
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