GBPUSD--February 4, 2009
Possiblility of a new impulsive move up (short to medium term pattern).
Alpha-beta base formed yesterday and early this morning. Alpha at 1.4482 and beta at 1.4322. The delta 1.618 target was 1.4580. Top so far today was right under that (1.4576). It has sold off since then, now below the 1.272 level (1.4525). That might prove a point of attraction against a deeper sell off.
30 minute:
5 minute:
If this pattern is valid, the 2.618 delta target would be around 1.4740.
