- I DO THINK, THERE IS A POSITIVE CORRELATION BETWEEN EGX30 AND GBP/USD IS MUCH CLEAR THAN ITS REALATION TO OTHER CURRENCY PAIRS , MIGHT BE DUE TO- IN PART- SOME EGYPTIAN‘S BLUE CHIPS ARE LISTED IN LONDON GDRS
- CABLE BASICALLY IN MEDIUM DOWNTREND, ONE POSSIBILITY , CABLE IS IN MINOR WAVE 3 OF INTERMEDIATE WAVE 5 OF PRIMARY WAVE C OF SINGLE ZIGZAG PATTERN WHICH WAS BEGUN IN 2007, PRICE TARGET FOR WAVE 3 MINIMUM 1.0560 , THIS SCENARIO IS CONFIRED BY CLOSING BELOW 1.1452
THE OTHER ONE , CABLE STARTED NEW UPTREND AFTER BOTTOMED AT 1.1452, AND THE INTERMEDIATE WAVE ONE COMPLETED AT 1.4378 THEN, CORRECTION TAKES PLACE AS WAVE 2 WHICH IS LIKELY HIT 1.2000( THIS POSSIBILITY BASICALLY ASSUMES PRICE DOS NOT MOVE BEYOND 1.1452
