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We assume that correctional decline is over

We assume that correctional decline is over | 18 December 2015

18 December 2015, GBP/USD

Bears managed to update the Low once again.

But the overall situation still looks bullish and here is why.

It is likely that the final Diagonal Triangle took a more ambitious form which more clearly shows internal three-wave model.

I assume that yesterday the final wave v was formed, which is the shortest one. Has the market shrunk to shoot up?

It is possible, so, based of these considerations,I opened a Buy trade.

We assume that correctional decline is over

Vasiliy Lukin
FreshForex Analyst
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