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GBPUSD : Downtrend Can Slow Down

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 11, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    GBPUSD trades lower, now near 1.4500 within blue subwave (v) which can still extend towards 1.4400 before support is seen. However, we must keep in mind that fifth wave represents a final leg within larger impulse, so sooner or later price will turn. But in our case we will expect only a temporary corrective bounce up in wave 4 which could then turn back down from 1.4645 area; ideally later this week. The RSI reading also suggests that downside is limited because of bullish divergence. GBPUSD,

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