01 February 2016, GBP/USD
As usual at pivot, the price returns to the starting point of the beginning of its movement, thereby knocking out the most cautious traders opened their true position. Here we can see the same situation, there was a pivot and ascending impulse starts its movement, but suddenly bears returned the price to starting point. Now there is a price attempt to renew upward movement. Perhaps a sharp decline was due to the continuation of development of the correctional wave - ii. Thus, this wave seems complete, so in the near future we obviously expect pulse growth of pair within the limits of iii wave.