GBPUSD is mirroring EURUSD right now, in the fact that we sit at a very interesting point in the overall wave count. The long term count is pretty solid, and calls for a substantial decline in this market, against the backdrop of a big dollar rally across the board. So far the wave count has held up this week. I had speculated that the tag of the upper trend line was sufficient to finish wave ‘ii’ black. This is a longer term high, which would prove to be the turning point of the big decline I see coming. The current wave count in green sees the recent decline as the beginning of that new down trend. I placed a sell ... (full story)