Currency Analyst since 2010

GBP/USD: weekly wave analysis

By Roman Petuchov

Weekly. After the completion of the global correctional wave B, we see the fall of the pair in the new downtrend C.

Daily. The pair is forming the first wave of a downtrend – impulse [1]. When it is completed, we’ll see an increase within a correction [2]. 

H4. The layout of the impulse [1] is shown in at the picture. This week we expect GBP/USD to drop in the final wave 5 of (5) of [1]. Moreover, the decline may be sharp, since was built compressed horizontal flat 4.





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