Currency Analyst since 2010

GBP/USD: weekly wave analysis

Weekly. The pair’s continuing development of a strong bearish trend C. Consider its layout details.

Daily. The pair has completed the construction of downward impulse. [1] At the moment the pair’s forming an upward correction to this impulse –wave [2]. 

H4. It’s very likely that the wave [2] will take form of the Flat or Double Zigzag. If this assumption is true, this week we’ll see the completion of the construction of the downward impulse C of (B). Then the pair will begin the formation of a new upward wave (c) of [2]. The approximate trajectory of the upcoming move is shown at the picture.

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