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Correction is expected to develop

22 September 2015, GBP/USD

After facing a fierce respond, the pound cannot collect itself.

Bears actively take advantage of that and forced the price down almost for 200 points from the local Low.

It seems that thid decline is caysed by correction shaped by the wave iii.

Mentioned impulse wave is supposed to be formed as extension. So soon we can expect a sharp reversal and impulse growth.

So far, that has not happened and we have to be patient waiting for a more favorable situation.

Correction is expected to develop

Vasiliy Lukin
Analyst of «FreshForex» company
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