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The wave [ii] of (iii) is expected to evolve

19 October 2015, GBP/USD

It is possible that the price has formed the wave [i] of the upward impulse that took the form of the emerging wedge.

Anticipated continuation of further movement is a correctional decline associated with development of wave [ii ].

We assume that expected correction will take the form of a simple Zigzag.

So, if this assumption is correct, in the near future we expect a corrective decline of the pair due to the development of wave [ii] of (iii) the upward momentum.

The wave [ii] of (iii) is expected to evolve

Vasiliy Lukin
Analyst of «FreshForex» company
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