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Correction

Correction | 31 March 2016

31 March 2016, GBP/USD

In contrast to Euro, Pound has failed to reach the local peak, although bulls made such an attempt twice.As a result, a kind of the Double Top has been formed, and the price began to slide down slowly.

Probably here the upward directional movement has turned into correction, which can take a few days. In such a situation it is better to avoid active trading and keep opened buy deals, because in the future we expected impulse growth to resume in the framework of the wave 3.

In the future it will be possible to open additional Buy trades

Vasiliy Lukin
FreshForex Analyst
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