Pound is preparing to weaken? | 25 Agosto 2015

In the previous review we considered bearish scenario in a larger time interval than earlier.

Now I would like to indicate the possibility of such a scenario on a smaller time interval.

So, probably after completion of correction in the form of a simple Zigzag, the price formed the first impulse wave down (i).

This was followed by a rebound and flat, which is still being formed, although it is possible that its development has been completed and correction also took the form of a simple Zigzag.

So, if this assumption is correct, in the future we can expect resumption of the impulse decline associated with development of the wave (iii) downward momentum.