Impulse decline is expected

04 August 2016, GBP/USD

The British currency is bending every effort to stay at these levels, but has not enough potential to combat bears. Therefore, we expect start of the wave [c], which is taking the form of downward momentum. For this reason, I've opened a Sell trade with a stop loss set just above the High.

So in the near future I expect impulse decline of the pair boosted by formation of the wave [c].

Vasiliy Lukin
FreshForex Analyst
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