Third wave of the descending impulse is being extended

12 May 2016, GBP/USD

Decline appears to be inevitable in the near future.This drop is obviously caused by the extension in the wave 3 of a downward momentum.

In this case, drop may be abrupt and extended. For this reason, I opened a Sell trade with Stop Loss based at the local price level. For three times, buyers failed to cross this level.

Decline appears to be inevitable in the near future.

This drop is obviously caused by the extension in the wave 3 of a downward momentum.

In this case, drop may be abrupt and extended.

For this reason, I opened a Sell trade with Stop Loss based at the local price level.

For three times, buyers failed to cross this level.

Vasiliy Lukin
FreshForex Analyst
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