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The third wave is forming elongation

21 September 2015, GBP/USD

The situation with pound/US dollar pair is also favorable.

For some time, the pound has been strengthening until it was challenged by the last move, to which apparently it was not ready.

This led to a sharp decline of the pair, but due to this decline, we have presumably received development of extension in the wave iii.

So, if this assumption is correct, in the future after a small correction we will surely have an upward impulse movement.

The third wave is forming elongation

Vasiliy Lukin
Analyst of «FreshForex» company
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