Currency Analyst since 2010

GBP/USD: weekly wave analysis

By Roman Petuchov

Weekly. The pair finished construction of a global correctional wave B, which took form of a wave plane. We now see the beginning of a new downtrend.

Daily. On the last section of the impulse which has been forming for 1 year the bears are actively pushing the price down.

H4. As the powerful decline of the pair continues, we had to slightly adjust the layout. Next week we expect decline in prices in a downward impulse (5). The approximate structure is shown at the picture. When the wave (5) of [1] is complete, the pair will start building an upward correction.

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