GBP/USD: bears are going to break the last low by way of the fifth wave


The market has been falling down since wave 2 or B arrived in a form of a flat. Yesterday the fourth wave inside wave 3 or C was ended, so bears are likely going to deliver an impulse in wave [v] in the short term.


As we can see in the one-hour chart, wave [iii] has formed an extension. So, a local correction was started afterwards. Anyway, the market is likely going to decline in the fifth wave in the short term, which can bring a new low.

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