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Situation remains bearish

Situation remains bearish | 25 August 2016

25 August 2016, GBP/USD

If the price starts growing and renews the highest point (high) of the assumed wave e of [b], our wave frame will be incorrect and I will get the whole thing revised. But if the price confidently moves down, the considered scenario will be confirmed, and the price will "draw" the wave 3.

In this situation, you can try cautious sales with stop loss at a local High, as shown, or wait for an update or a local High or Low to act based on the situation.

Vasiliy Lukin
FreshForex Analyst
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