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GBPUSD : Three Wave Rally Underway

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 10, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    GBPUSD is recovering with three waves as expected, away from 1.4893. For now, it's still unclear if move will be corrective, like a zigzag or is this start of a new impulsive bullish cycle. But in either case we see room for current wave C/3 towards 1.5260-1.5330. Also, current bullish momentum is very strong so intraday trend is expected to stay up. On the other hand, only a sharp decline back to 1.5000 will indicate a completed rally. GBPUSD, 4H

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