The Gbp/Usd peaked at the 1/2 X-Sequentials X7 price target on 5/8/09 at 1.70430 and reached on 10/13/09 with 1.57050 the minimum downtarget of the X7 countermove
(X-Sequentials Move X) .
Currently the pair is within a range of 1.70430 to 1.47311.
If the pair breaks below the low at 1.5705 the next price target area is located at 1.48277-1.48060.
The maximum target for a downmove is : 1.46931.
Chart: Gbp/Usd ,X-Sequentials Daily Chart
Intraday a X-Sequentails X5 pattern was formed and reached it´s inverse 5XZ price target .
The Gbp/Usd bottomed at 1.58300.
The following counter move found it´s high at 1.62270 .
If the Gbp/usd breaks through the 1.62270 high ,the next target Zone to the upside lies at
1.64326-1.65026 ,but chances are low ´cause the high at 1.62270 was between the replaced
X countermove zone of the X5 pattern.
That indicates a upcoming downmove .
Chart: Gbp/Usd ,X-Sequnetials 60 Minute Chart