We expect the wave 3 of the ascending impulse

06 April 2016, GBP/USD

The pair continued to decline, thus forming a model, which is much similar to a regular zigzag.

So at the moment we continue to consider the specified scenario implying that formation of the wave 2 of the emerging upward impulse is over.

Anticipating the wave 3, I opened a Buy trade with Stop Loss set at the local Low of the price.

Now we have to wait for respond of the price.

Potential of the upward movement is great, so under this scenario, I will open new Buy trades.

Vasiliy Lukin
FreshForex Analyst
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