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A deeper impulse decline

06 July 2016, GBP/USD

The pair resumed its downward movement having updated its Low. Thus, development of the wave [iii] of the descending impulse began. At the moment, these waves look incomplete, so there is a good potential for a deeper impulse decline.

However, at the moment, there is an attempt to grow, it is likely to be a correction. Thus, expectations of the considered pair remain the same, namely, continuation of the impulse decline within development of the wave [iii].

Vasiliy Lukin
FreshForex Analyst
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