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Impulse consolidation of the Pound

Impulse consolidation of the Pound | 04 December 2015

04 December 2015, GBP/USD

As we supposed, breakdown of the bottom of the diagonal triangle was false.

The price almost immediately returned to the starting point and at the same time updated the local High.

Therefore the wave (iii) of the upward momentum is being formed.

If this assumption is true, in the near future we can expect a continuation of impulse growth of the pair.

Impulse consolidation of the Pound

Vasiliy Lukin
FreshForex Analyst
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