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Showing posts with label GBP/USD - Expect downside acceleration soon.. Show all posts
Showing posts with label GBP/USD - Expect downside acceleration soon.. Show all posts

Monday, February 3, 2014

GBP/USD - Expect downside acceleration soon.


GBP/USD

My preferred Count shows that we currently is in wave c of E and therefore I'm looking for a impulsive decline (five wave decline) in wave c towards the bottom of wave iv of the lessor degree at 1.5854.

Short term I'm looking for a minor correction higher towards 1.6467 in an expanded flat correction before acceleration lower as wave three lower gets up in a higher gear. Even though I do expect a slightly higher correction, we have to be aware that this correction already could be over as corrections during wave three tend to be small and even sub-normal and this could be such case.