GBPUSD correction continued
In my previous entry on the cable I explained, why the scenario of break through 1.538 level is more likely. Today this idea was proved, and it’s time to discuss the nearest perspectives on GBPUSD.
On 4h chart is shown, that the latest bearish impulse hasn’t still finished. The previous upside move had 3-wave form, that is typical for corrections. That means, that the current upside wave is the last step in completing 3-3-3 formation.
GU is likely ahead of another decline, so sell orders with stops above 1.557 and targets below 1.48 may be opened.
