(Click at the pictures to enlarge)EUR/GBP has just or are very close to finish wave 1 of wave 5 up from its 2000 low at 56.73.
I do expect wave 5 to finish near 99.60.
But lets concentrate on wave 1 of 5. As can be seen, wave 1 has traced out a nice looking five wave structre, which looks complet. The top of the wave 2-4 channel has been tested, subwave v has a 38.2% relationship to wave 1 through 3, so we should now see a correction down to the 87.46 - 88.37 area, where a 50% retracement would be at 88.37 and a 61.8% retracement would be near 87.46. The bottom of purple wave 4 of wave iii comes in at 87.21 and would be a normal target for the wave 2 correction.
Lets see what the time brings...
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