Friday, July 24, 2009

July 24 - GBP YEN : Medium Term Direction



There's a bullish count for GBP YEN which will get more favorable if time continues to pass by and Geppy doesn't start to reverse seriously. If USD YEN bullish count I posted yesterday happens to be the correct one, then GBP YEN bullish count could likely also be happening.

Under this bullish count, MTD 7 low, and most likely also LTD 10 low have been due at 146.75, so medium term direction and long term direction are travelling up.

In ITD time frame, under this scenario, ITD 9 low will end above 146.75.
For the bearish case I posted in July 13 to be happening, Geppy needs to start reversing hard asap.
 

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