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Technical analysis 'chart of the week': EUR/GBP further upside momentum

Discussion in 'Technical Analysis' started by ForexLive, Jan 15, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Morgan Stanley with Elliot Wave analysis, starting at the big picture and down to a lower time frame The technical and fundamental picture suggests further upside for EUR/GBP. Having completed the 4th wave with a low at 0.6936, we believe that EURGBP's 5th wave would initially head towards the top end of the channel at 0.83. If our 5-wave analysis is correct then EURGBP would eventually trade above the 3 -wave top at 0.9812, a multi-year target.

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