18 November 2015, GBP/USD
GBP/USD is currently trading with a bearish bias. Instead of heading short as previously forecasted, the pair crossed above 1.5171, and is currently just trading above it. We are waiting for a cross below 1.5171, and the immediate red lower trendline before we continue short with wave (c). Traders trading this pair should observe other pairs such as GBP/JPY, GBP/HKD, AUD/JPY and AUD/USD for similar price movements. Only buy or sell Pounds if all the other positively correlated pairs are giving the same signal.
Sell below 1.5171 with targets at 1.4846 and 1.4585.