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Bulls have lost almost all their chances

08 April 2016, GBP/USD

The British currency has also showed a strong upward movement but could not develop its local success.

As a result, all efforts were in vain, as the last day the pair had spent in a slow decline.

However, although the price has not updated the local Low, in theory chances for resumption of growth as part of the third wave are hard to believe.

It is possible the price will continue to decline under the descending impulse, which structure seems not quite clear at the moment.

Actions in such a situation also remains uncertain, so it is better to wait for clarity.

Vasiliy Lukin
FreshForex Analyst
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