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GBPUSD : Correction Could Follow

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 24, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    GBPUSD had another bearish week after the price took out 1.4560 level as noted in our past updates. Notice that current decline is extended, so it must be impulsive as part of a much bigger bearish cycle. However, price is now trading at our Fibonacci projected levels for current wave 3-circled where bearish wave can slow down; but not for long as any bounce would then be treated as a correction within ongoing weakness towards 1.4000. GBPUSD, Daily

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