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Currency Analyst since 2010

GBP/USD: weekly wave analysis

By Roman Petuchov

Weekly. Global descending zigzag A-B-C is now being built. The market is now decending in a trend C.

 

Daily. Inside of the wave C we've seen impulses [1] and (1) and corrections to them. After a correction (2) the price is expected to decline in a new descending wave (3).

 

H4. Wave (2) seems to be fully complete with a zigzag in a wave Y of (2). In the coming days the market is expected to decline in a new bearish wave. Look to go short. 

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