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The upward movement is suspended, correction is expected

The upward movement is suspended, correction is expected | 03 November 2015

03 November 2015, GBP/USD

Impulse growth of the British currency has turned out much more swiftly than the one which euro had.

But the price failed to go far, almost leaning to the local High and having started decline from that, which also has a corrective nature.

So, we cannot expect a further movement of the price upward.

Thus, in the near future, we expect development of correction, which may take the form similar to the one represented on the below chart.

My opened trade is "in the black", so there is nothing to fear.The upward movement is suspended, correction is expected

Vasiliy Lukin
FreshForex Analyst
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