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GBP/USD: weekly wave analysis

Weekly. The pair has finished construction of a global corrective wave B. We see the formation of the beginning of a new downtrend C.

Daily. At the moment the pair’s forming the descending impulse wave [1]. It’s very likely that this week it will end, and we’ll see growth in the correctional wave [2]. 

H4. The layout of wave [1] is shown at the picture. At the beginning of this week the pair will complete the descending impulse (5) of [1], approximately as indicated at the picture. And then GBP/USD will begin rising in an upward correction [2].

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