Expectations of drop are still here | 14 Juni 2016
14 Juni 2016, GBP/USD
Ongoing development of the descending impulse. We assume that now extension in the wave iii is being formed.
This extension may have been completed the development of wave 3 and the pair is now going through correction within 4 wave of iii. In general, there is a good potential for a deeper drop. After completion of the correction, we expect rapid drop to continue. The key to a strong movement factor is a referendum about whether the UK remains in the EU, so it is quite possible that we will see a very strong price action.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
