EURGBP: how high?
By
Following the big picture posted a while back
EURGBP: impulsive looking breakout forces me to revise and modify the counts.
Larger degree rally scenario has been posted a while back (EURGBP: winners and losers) and now it's time to return to the bigger picture.
New counts are shown on the chart. Impulsive blue count is my preferred scenario to track on a big scale; the green count on the daily and 4 hr charts is possible alternative - though for the time being it's looking feasible option as well.
The red count on the 4 hr chart would be validated by possible break below 0.89506 (now - alternative).
Nearest resistance is 0.9133 region; over 0.93154 I'll take the red count off the chart.
Reaction to resistance in the 0.94978 - 0.96105 will clarify operative scenario: inability to stop the rally opens the door to 1.01 next.
The counts are still a subject to modify; impulsive count within the green (c) of B is what I am going to track on smaller scales until forced to discard the scenario.
