Big up move on 4/17 (239 points) into 4/21. Prices corrected today on 4/21 and appears to have found support off its current low. Buying off 4/18 high strategy would have resulted in a loss. Price objective remains headed into 4/29-30 as forecasted earlier, making pullback buys at support the better strategy.

Here is how things have played out so far: Turn date 4/15 produced what is now easily seen as the significant daily swing bottom. This was followed by a 239 point 'acceleration day' move on 4/17, which was the next turn date. Prices currently trading inside a minor 4/21 cycle turn date. Another exists on 4/24 and is also considered minor, possibly a correction day. Next major turn date is the 4/29-30 time window originally discussed.

The acceleration day move of 4/17 naturally threw off the rotation of my expectation. It was originally analyzed as a major date for this market, and speculated likely a turn like all other turn date periods. It did turn out to be significant, but a major move day rather than an outright turn.

With the original analysis for a move from 4/17 to 4/29-30 (bullish) still in play, the two turn dates between these are suspected as being 'corrective' swings. These will likely produce opportunities to enter this market long at better prices.

Mark down 4/29-30. While we continue to trade up to that date, it itself will likely provide an excellent trading opportunity as a significant cycle time period for the British Pound.

Cheers!

Rick J Ratchford
ProfitMax Trading Inc.
http://www.amazingaccuracy.com

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Disclaimer: NO BUY, SELL or HOLD Recommendations.
Commentary and Forecasts made are for EDUCATIONAL PURPOSES ONLY and are not to be construed as a recommendation to buy or sell anything. All forecasts and analysis are produced with the aid of FDates, dynamic daily/weekly cycle turn dates calculated using the proprietary FDate suite of applications and published each week via the FDates Precision Trading Membership (AmazingAccuracy.com). In spite of the exceptional accuracy of FDate analysis, the regulatory agencies require that you be aware that "past performance is not indicative of future results." Trading is risky and heavily leveraged. The potential to make large profits also includes the potential for losses.

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