Presumably, the “bullish” impetus has completed in the wave A. At the moment the “bearish” correction has began in the wave B. Locally, it seems that the first wave of correction a of B is being formed. If this assumption is correct, the pair can decline to the levels of 1.5300–1.52. Critical level for this scenario is 1.5816.
read more >>GBP/USD: wave analysis on 21.05.2015
Source: LiteForex Forex Technical Analysis and Forecasts 91 0