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The fifth wave of the rising wedge

17 December 2015, GBP/USD

The pound continued to lose its hard-won position.

The price has approached close to the critical level, the breakdown of which will point to the fallacy of our wave frame, but the chance to implement the bullish scenario is still available.

It is possible that decline has a corrective nature due to development of the wave iv of an assumed wedge.

Thus, in the near future we will witness an impulse growth of the pair due to the development of the wave v

The fifth wave of the rising wedge

Vasiliy Lukin
Analyst of «FreshForex» company
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