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We are expecting extension of the third impulse wave

09 February 2016, GBP/USD

Pound starts rapidly changing direction from bull to bear and inversely again.

This time we expected small correction decrease but in fact price practically reaches wave spike i and all wave constriction looks like zigzag.

Perhaps we observe extension of the iii wave and this is the first wave in this limits.

In this case it is possible to buy with stop loss on local minimum and change stop level to breakeven if the situation turn to positive way.

We are expecting extension of the third impulse wave

Vasiliy Lukin
Analyst of «FreshForex» company
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