After reaching the X-Sequentials X5 down move targetzone at 1.4962-1.4661 with 1.47776 a up move ´till 1.55 was forecasted.
The Gbp/Usd peaked at 1.51960 on 3/8/2010 and plunged back to 1.48690 on 3/10/2010.
Afterwards a reversal ´till 1.52174 took place.
Fridays close (3/12/2010) : 1.5195
Chart : Gbp/Usd 60 Minute X-Sequentials Chart
Due to a internal X-Sequentials X7 pattern the currents up move´s potential is restricted to the area of 1.52327-1.52852 .
This implicates a tradingrange with a down move target from 1.50154 to 1.49313 .
The 1.55 forecast is still valid.
Short the Gbp/Usd between 1.52327-1.52852 ´till 1.50154.
Afterwards enter a long position between the down move´s targetzone at 1.50154-1.4913.
Keep your long position with a stop at 1.4913 ´till 1.55 .
yours sincerely ,
Devin Sage ,TXA Trading