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Irregular zigzag

15 March 2016, GBP/USD

Pound decided to have fun.

Opened deal on buy was closed by stop-loss.

Bulls couldn’t develop success and price starts decreasing.

The reason of this odd behavior we can see in this.

Possibility correction in iiwave is formed irregular and wave b of ii, renew price maximum in this time in normal impulse five waves are responsible for renovation.

So probably the wave b was formed, and for zigzag need to decrease in the conclusion.

Aim of this decrease is level 61.8% fibo, in this level we can expect conclusion of forming zigzag and wave ii. So we can try carefully sells.

Vasiliy Lukin
Analyst of «FreshForex» company
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