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There are still chances for upward movement

01 October 2015, GBP/USD

Given the fact that our view on Euro/US dollar in the long run has changed, we also need to make some changes in the scenario for this pair.

But as long as we don't know whether bearish scenario on Euro will take place, we should not exclude its consolidation and the fact that the pound can follow this example. Then, a bullish way would be the best.

Based on these considerations, the markup for this pair remains the same.

We expect that the pair will soon complet development of a Double Zigzag in the wave (ii).

So, in the future we can expect impulse growth of the pair as the wave (iii).

In order to catch this movement, I set a pending buy stop order.

The chances of moving up are saved .

Vasiliy Lukin
FreshForex Analyst
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