Pound is at the bottom

14 January 2016, GBP/USD

The British currency continues to face certain difficulties in confrontation with the US dollar.

Almost for a month The Pound has been steadily losing ground and it's probably not the limit, but the bottom is close.

We assume that by this time completed the formation of wave iii of [c] of (y) is over.

So in the future we expect development of two waves - iv and v - then it is possible to expect a reversal and start of rapid growth.

As long there are no signs of growth, we are better to stay aside.

Pound is at the bottom

Vasiliy Lukin
FreshForex Analyst
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