EURGBP - Market Analysis on Feb 11th, 2019

EURGBP: looks like we only have 3 waves down off the recent high at 0.88209. It means that we deal with potentially bullish wave structure matching with the blue i - ii count off the low marked alt 2.
Further impulsive advance higher (over 0.88209) would be the reason to "gauge" wave iii count off the low - should this attempt succeed we may be having clear long setup in place.
As for a larger degree scale - next target may be met in the 1.00916 region. Over 0.8868 region I will consider a meaningful low in place as a high probability scenario.

BaseCase - EURGBP - daily - 11-02-2019 - 1
BaseCase - EURGBP - daily - 11-02-2019 - 1
BaseCase - EURGBP - 4 hr - 11-02-2019 - 1
BaseCase - EURGBP - 4 hr - 11-02-2019 - 1
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.