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The moment of truth

26 May 2016, GBP/USD

The British currency has once again updated local High, having moved the pair to the critical level for the considered scenario.

However, as long as the breakdown of the drafted horizontal level on the chart does not take place, we still have chances for the bearish scenario.

Based on this, the downward momentum began its development from the wedge of the wave [i].

A corrective growth - if it is indeed a corrective one, has probably took the form of a plane, with the triple as the wave a and impulse b in the wave c.

Thus, this correction model looks completely formed, and in the near future the price may begin the downward movement within the downward impulse.

However, sale is extremely risky, it is better to wait for confirmation of the scenario under consideration

Vasiliy Lukin
Analyst of «FreshForex» company
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