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Pound is preparing to weaken?

25 August 2015, GBP/USD

In the previous review we considered bearish scenario in a larger time interval than earlier.

Now I would like to indicate the possibility of such a scenario on a smaller time interval.

So, probably after completion of correction in the form of a simple Zigzag, the price formed the first impulse wave down (i).

This was followed by a rebound and flat, which is still being formed, although it is possible that its development has been completed and correction also took the form of a simple Zigzag.

So, if this assumption is correct, in the future we can expect resumption of the impulse decline associated with development of the wave (iii) downward momentum.

preparing for the weakening of the pound?

Vasiliy Lukin
FreshForex Analyst
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