The GBP/USD reached the 1.2825 target and could extend its bearish momentum towards the round level of 1.2750. Price could either continue immediately or make a light pullback towards the 1.29 resistance zone. Any bullish price action, however, is expected to be capped and find a resistance spot for a new lower low, which could confirm the wave 3 (blue) pattern.

remains in an indecisive spot from a wave perspective. The main aspect to keep an eye on is whether price bounces or breaks at the top (red) resistance line of the downtrend channel. A bearish continuation, especially below the 100% level, could indicate an impulsive wave 3 pattern whereas a reversal could indicate a bullish wave count instead.

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The GBP/USD completed an extended wave 5 (dark red) with 5 extra waves (grey) and now price could be ready for a bullish ABC (dark red) correction within wave 4 (orange). The main resistance zone is the area around the 23.6-50%Fibonacci levels near 1.2875-1.2935. The GBP/USD could also make a bearish breakout if it’s able to push below the support trend line (blue).

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The Wave Analysis it for today the most flexible, powerful and perspective tool which allows to predict tendencies which lead to certain changes on financial charts on all time pieces. One of properties of this tool is its insufficient formalisation, proceeding from it the opinion of the author of the forecast made on the basis of the Wave Analysis always is subjective. As the Wave Structure constantly varies, the forecast on the basis of the Wave Analysis reflects opinion of the author at the moment of the forecast publication. The Wave Analysis is not trading system. It not the generator of signals on the conclusion or an exit 1from the transaction, therefore the schematical direction of movement of the price put on the chart should not be for the trader the guide to action on opening of positions. In case of formation in the market of conditions which, according to the author it is possible to use for drawing up of the trading plan - on a chart levels of acknowledgement of the chosen scenario, optimum areas of an input and levels of cancellation of the chosen scenario will be specified in addition.


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