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Impulse decline of the pair

05 August 2016, GBP/USD

The option with horizontal triangle as wave [b] is fully justified. Although the wave e of [b] is cut, this model can be identified with certainty, especially as the price rushed down after its development. Probably, at this moment an impulse is being shaped as the wave [c], so it is possible to count on extended decline pf the pair. My earlier opened sell trades are in the black.

In the future, impulse drop of the pair is expected to continue.

Vasiliy Lukin
FreshForex Analyst
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