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The pair is lost

17 May 2016, GBP/USD

Pound began to actively grow.Bears were not ready to it and the pair had easily come back into the framework of correction, from which the price seemed to start getting out.

At the moment, it is unclear what is going on. I am in favor of the scenario with ongoing correction in the framework of development of the wave [ii] of the emerging downward momentum. Therefore, the price is going to resume its downward movement soon.

However, I remind you that the situation is extremely complicated so trading for this pair is not necessary now.

Vasiliy Lukin
Analyst of «FreshForex» company
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