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British Spring fever continues

07 June 2016, GBP/USD

At a time when the Euro looks solid and thorough, pound has some problems. It seems that those who trade the British currency in a panic. I can’t find another explanation for roller coaster, that we see on the chart. Of course, it is likely due to expectations of an upcoming referendum about leaving the EU, so up until June 23 for all currency pairs where the pound is trading, there will be some inadequate movements. To trade in this situation is extremely dangerous for the deposit, so it is best to observe the pair from the side. For those who still can not sit idly by, you can look at possible options from the wave analysis point of view. It is possible that in the course of Friday and yesterday was finally formed i wave of downside momentum. Moreover, the price probably even had time to begin the formation of ii correctional wave. Further, it is possible to continue the development of correction within this ii wave, then the decrease will be resumed.

British Spring fever continues

Vasiliy Lukin
Analyst of «FreshForex» company
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