Situation remains bearish | 25 August 2016
25 August 2016, GBP/USD
If the price starts growing and renews the highest point (high) of the assumed wave e of [b], our wave frame will be incorrect and I will get the whole thing revised. But if the price confidently moves down, the considered scenario will be confirmed, and the price will "draw" the wave 3.
In this situation, you can try cautious sales with stop loss at a local High, as shown, or wait for an update or a local High or Low to act based on the situation.
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.
