GBPUSD 360 1-10-13

GBPUSD 60m 1-10-13

Quick Elliott Wave Update on the GBP/USD Currency Pair by Sid from  Click on the charts twice to enlarge.

Since my last post regarding the British Pound, it appears we’ve seen 5 waves down, and a 50% retracement.  This is a textbook short setup, with the objective to catch what is expected to be a very sizeable move to the downside in this pair.