Currency Analyst since 2010

GBP/USD: weekly wave analysis

Weekly. The pair continues strong drop in the downward impulse C.

Daily. The market has formed waves [1], [2] and the beginning of a wave [3]. However, at the last section the price went to an upward correction. It’s very likely that in the near future it will end, and the decline will continue.

H4. This week the pair may renew low. Here we should say a few words about the alternative scenario. It’s possible that the pair has started a deep upward correction. In this case, after a slight decline to the level of 1.6120, growth will continue. You should be careful while trading at the current levels.

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