After 2008 the Euro got clobbered big time and faced huge losses against the Pound and fell all the way back to 0.6930. Crucially this decline in EUR/GBP took place in 3 waves (double zigzag) too and hence was corrective as well.
In July 2008 the pair rallied impulsively to 0.8626 and broke convincingly out of a 8 year old corrective channel. Currently the correction of the 0.69-0.86 impuls is already in progress.
From here on out I believe the correction of the 0.69 - 0.86 rally will need more time to complete and will subsequently be followed by new rally which should go far beyond 0.86 in a C wave.
