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GBPUSD : Correction Could Be In The Cards

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 5, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    GBPUSD is trading nicely down since mid-December when pair found a top at 1.5240. We are tracking a nice bearish impulse from there which may not be done yet. Based on latest price moves we think that new recovery is coming, but it may be only temporary; a black wave 4 of an incomplete bearish cycle. At the moment however, the most important is a five wave fall from 1.4946 that puts three wave bounce in play, so pair may see 1.4900 before price may continue down again. GBPUSD, 4H

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