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The wave 3 of the upward momentum is expected to develop

30 July 2015, GBP/USD

Sp far, in this pair no significant changes has occurred.

We assume that after development of the correctional wave 2, the pair attempted to grow within the frames if the development of the third impulse wave.

However, trying to reach the local price High, it has faced an insurmountable obstacle.

Thus, only update of the local price Highis able to move it up. In the meantime we obviously expect a small corrective pullback.

The wave 3 of the upward momentum is expected to develop

Vasiliy Lukin
Analyst of «FreshForex» company
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