A correctional growth is over | 19 August 2016
19 August 2016, GBP/USD
The price has been frowing for 4 days, met its goals in a zigzag pattern in the wave 2. Thus, in the near future, we expect resumption of the downward movement of the pair in the impulse form, during which the wave 3 will be formed. In this case we may try to open a sell trade with stop loss set just above the local price peak.
In the future, if the price goes down, on breakdown of Low you can add one more trade.
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.
