EUR/GBP - Potential bottom in place

EUR/GBP - Potential bottom in place

EUR/GBP potential bottom in place 

The last part of the correction in blue wave, has transformed into an ending diagonal. As long as important short term support at 0.7849 protects the downside, I will be looking for a break above minor resistance at 0.7894 to confirm, that a bottom is in place and a rally back to resistance in the 0.8046 - 0.8066 area is unfolding. Only a break above 0.8066 will confirm a longer term bottom for a rally towards 0.8400.

If however support at 0.7849 is broken, the rally from 0.7764 only has been in three waves and and new test of this long term important support should be expected.  

Roelant
2019-06-14
Dear Elliottwavesurfer,

Awesome action in your crude oil surfing 2019! Jumping these waves is a sure way out of economic slavery.
You deserve a slot on MSM. But that would be the end unfortunately...
JT
2014-06-23
Its been a pleasure over the years I have been following you and even better as a member the education you provide in my view is invaluable you can read books as I have but to see how you evolve your ...
Duane
2014-08-29
Hey EWS,

Great work on the GBPCAD and the NZDCAD. These are the type of opportunities that I am looking for, monthly turns caught with daily or hourly entries. Easy money!!

Duane