Trader, analyst and instructor with a 6-year experience

GBP/USD: weekly wave analysis

Weekly. The market is forming a multi-month bearish trend C (part of a global bearish zigzag).

Daily. Markup of the wave C is drawn on the chart. After a bullish zigzag (3) we expect a decline in a new impulse (5).

H4. See the wave (4) in the details. The decline will continue at the beginning of the new week. We recommend going short at the end of a short-term bullish correction. 

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