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The wave [ii] is formed.

29 October 2015, GBP/USD

We assume that correctional decline of this pair associated with development of the wave [ii] has reached its goal.

The price fell to 61.8% fibo from the assumed wave [i] and now has the potential to rebound from it and start form the wave [iii] of the rising impulse.

However, for a more secure entrance, I would recommend using a pending order to buy - Buy Stop - because if our assumptions prove to be wronf, we simply will have nothing to lose, but if the impulse takes place, we will avail from this movement.

The wave [ii] is formed.

Vasiliy Lukin
Analyst of «FreshForex» company
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