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Another attempt to tame the British currency

Another attempt to tame the British currency | 27 May 2016

27 May 2016, GBP/USD

Buyers have failed to update High, which led to an abrupt downward price movement.

Perhaps, therefore, it was beginning of the wave [iii] of a descending impulse. Correctional wave [ii] is shaped as the plane. The wave [i] is a wedge that indicates a good downward movement in the near future.

Anticipating development of the wave [iii] of downward momentum, I've opened deal a Sell trade with a good target, so in the future I will probably open an additional transaction.

Vasiliy Lukin
FreshForex Analyst
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