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In the footsteps of euro, up!

24 September 2015, GBP/USD

The pound has followed in the footsteps of the euro, in the sense that its decline was within the frames of an assumed correction, which stopped at a local Low.

At the moment the pair attempts to resume movement in the upward direction to develop the wave iii of the upward impulse.

Based on these expectations, I opened a long position with the target 1.5550, although potential of the price allows it to reach the level of 1.6000 and above.

 In the Footsteps of the euro, up!

Vasiliy Lukin
FreshForex Analyst
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