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The third rising impulse wave has started to develop

28 July 2015, GBP/USD

As the euro, the pound is not going to stand aside from the possibility to slightly consolidate its position against the US currency.

The chart clearly shows a well shaped upward wave 1, which was followd by formation of zigzag associated with the waves 2.

Next to it, we see that the pair is trying to continue its movement in an upward direction.

Obviously, this is associated with the development of the wave 3 of [iii] of the emerging bullish momentum.

Thus, if this assumption is correct, in the future we can expect a good upward movement.

The third rising impulse wave has started to develop

Vasiliy Lukin
Analyst of «FreshForex» company
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