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GBP/USD Plunges In Bearish Wave-3 After Rate Cut To Record Low

Discussion in 'Technical Analysis' started by Kaitlin, Aug 5, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The EUR/USD has replaced the bullish impulse with the start of a bearish momentum. Price however needs to break below both support trend lines (green) before a continuation is possible. The EUR/USD seems to be building an ABC zigzag (green) within wave 4 (blue). Typically waves 4 are shallow retracements[​IMG]

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