Update: GBP/USD Short-term – Near-term oversold?
31 July 2014/1:50 p.m. ET
Issue # 1255
Position: Long (from 1.6887 on 7/31) Trend View: I-T ↓ S-T ↓
31 July 2014 Last 16888: We have seen a nicely defined five wave sequence into the low today; now playing for a near-term oversold bounce to the 1.7000-level in minor wave (b). You can also see a bit of divergence into the low (bottom pane).