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.  

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 ...
Roelant
2016-06-26
Hi Elliotwavesurfer,

Your forecast of the EURUSD waves and reversals on Brexit day were spot on! This was not chaos, the crowd followed a pattern!

GBPUSD was abolutely 100% too!Unbelievably accu...
Hani
2014-06-06
I have been a fan of you blog for several years!
I am so impressed at your renewal.
Elliott wave analysis is so difficult to me, but so interesting and useful.

Thank you
Hani