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Still believe in the downward momentum

19 May 2016, GBP/USD

Though pound is growing, overcoming all obstacles, I still stick to my wave frame. It suggests the bearish scenario.

Probably this abrupt movement took place in the framework of development of the wave [ii] of the emerging downward momentum. I assume that correction took the form of a Double Zigzag .

If this assumption is true, in the future we will have the pair is expected to drop within development of the wave [iii].

Still believe in the downward momentum

Vasiliy Lukin
Analyst of «FreshForex» company
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