Impulse decline is still on | 13 June 2016
13 June 2016, GBP/USD
I assume that at the moment the wave iii is forming an extension. At this point, this wave is likely to complete formation of the wave 3 of iii.
It says that in the near future we may expect a slight surge boosted by the correctional wave 4. When this correction is over, it will give a favorable starting point for new short positions. Now it is better to stay out of the market and patiently wait for emergence of this correctional wave.
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.
