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The wave 3 of upward impulse

The wave 3 of upward impulse | 11 April 2016

11 April 2016, GBP/USD

Abrupt price movement up and down point to the uncertainty.

The final trading day of the last week was calm, the price could not be update its Low or High, which indicates the corrective nature of recent price fluctuations.

Probably the above-mentioned correction has formed as the part of the wave 2 of an emerging upward impulse.

So, if this assumption is justified in the near future, we expect a rapid impulse surge under the wave 3.

However, trades shall be opened only on update of the local High.

The wave 3 of upward impulse

Vasiliy Lukin
FreshForex Analyst
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