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

For the GBP/USD pair, I think we’ve finished the first wave of the third of (C); it’s not certain yet of course, but I have a feeling the pair will continue the correction to the downside and will be able to update the nearest low, which will be a signal for a correction into the second wave of the third of (C). Most likely we’ll stay in this wave until the end of the week, and that will also give EUR time to finish its downward impulses. So far everything is going as I wrote a few months ago: EUR is falling faster, while GBP/USD is still trying to turn around, and they’re moving slightly in different directions, not very noticeably, but still differently. If they manage to update the high, then we’ll continue further with the first wave of the third of (C), but it’s unlikely to go far.