Impulse decline is expected | 04 August 2016
04 August 2016, GBP/USD
The British currency is bending every effort to stay at these levels, but has not enough potential to combat bears. Therefore, we expect start of the wave [c], which is taking the form of downward momentum. For this reason, I've opened a Sell trade with a stop loss set just above the High.
So in the near future I expect impulse decline of the pair boosted by formation of the wave [c].
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.
