FX.co ★ mdouglas | Wave Wisdom: Mastering the Art of Wave Marking in Forex!

On GBP/USD, it seems like there is the first upward wave, stretching a bit in the third of the first wave. We can agree on the first wave in the third higher wave, where even the first in the first in (3) in (3) in (C) is possible. Most likely, we are now heading for a minor pullback in (2) in (1) in (3) in (3) in (C), unless a reversal occurs, of course. If there is no reversal, then I expect the third wave in the first in (3) in (3) in (C) today. But if they manage to reverse, everything will go downhill, and the pair will continue down, forming an impulse in the fifth in (A) in (2) in (C). In that case, we won't be heading north anytime soon. We will finish wave (5) in (A) in (2) in (C), then have a pullback in (B) lasting a couple of weeks, followed by a move to 1.2500 minimum in (C). After a couple of months, we may start wave (3) in (C).