Trader, analyst and instructor with a 6-year experience

GBP/USD: weekly wave analysis

Roman Petuchov

Weekly. The market is now forming a strong multi-month trend C. It will be extended in the coming 6 months. 

Daily. Horizontal correction (4) is now being formed. After that the decline will continue in a bearish trend (5).

H4. The first bulsih zigzag w of (4) was formed. On the new week prices will decline in the corrective wave of the x bunch. Bearish movement is expected. 

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