Diversanta asked me for the short term count in EUR/GBP, so here we go.
We are clearly in an uptrend and the decline from 0.8815 is corrective and is wave 4, but is wave 4 finished or do we need one more decline. The rally of the 0.8398 low is overlapping in its structure, but it could be a leading diagonal and therefore a wave i. However, to confirm that we are in wave 5 higher we need a break above 0.8551 and more importantly a break above 0.8598, that would confirm that wave 5 higher towards 0.8918 and possibly 0.9043.
The flip-side is a break below 0.8398, that would call for a decline closer to 0.8287, but this scenario is not the preferred one at this point.
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