EURGBP: how high?


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.

BaseCase - EURGBP - monthly - 10-12-2018 - 1
BaseCase - EURGBP - monthly - 10-12-2018 - 1
BaseCase - EURGBP - 4 hr - 10-12-2018 - 1
BaseCase - EURGBP - 4 hr - 10-12-2018 - 1
BaseCase - EURGBP - weekly - 10-12-2018 - 1
BaseCase - EURGBP - weekly - 10-12-2018 - 1
BaseCase - EURGBP - daily - 10-12-2018 - 1
BaseCase - EURGBP - daily - 10-12-2018 - 1
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.


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