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Trader, analyst and instructor with a 6-year experience

GBP/USD: weekly wave analysis

Weekly. The pair is continuing development of a strong downward impulse C, the construction of which began after the GBP/USD completed the global plane wave V.



Daily. The downtrend [1] has been fully completed. At the moment the market is forming a correctional wave [2]. 



H4.
It’s possible that the wave [2] will take form of a wave plane (A) - (B) - (B). If so, then this week the pair dynamics will resemble that shown at the picture.

GBP
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