Trader, analyst and instructor with a 6-year experience

GBP/USD: weekly wave analysis

Roman Petuchov

Weekly. The market is now forming a descending zigzag in a wave A-B-C.

Daily. Last week the pair dropped in a strong bearish wave (5) of [3]. On the new week the pair is expected to trade in a corrective wave [4].

H4. Correction 4 is expected to develop. After that the pair will decline in a wave 5. 

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