13 June 2016, GBP/USD
I assume that at the moment the wave iii is forming an extension. At this point, this wave is likely to complete formation of the wave 3 of iii.
It says that in the near future we may expect a slight surge boosted by the correctional wave 4. When this correction is over, it will give a favorable starting point for new short positions. Now it is better to stay out of the market and patiently wait for emergence of this correctional wave.
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