During the Asian session on Monday the cable made another, the third, wave to the downside. The move with a bearish direction (it may be both a correction to the previous bullish impulse or a new short-term trend; we can’t tell it for sure by now) is actual till the price holds the level of the latter peak (1.5216).
A possible target for sell orders is 1.5105 (the first Fibo line as shown at 15min chart). If GU breaks 1.522 level, it’ll mean the expansion of wave (5) of 3.
If GBPUSD correlates with our view on EURUSD, and the last on is right, we’ll keep the downside scenario.
2 charts are attached in the signature link.
A possible target for sell orders is 1.5105 (the first Fibo line as shown at 15min chart). If GU breaks 1.522 level, it’ll mean the expansion of wave (5) of 3.
If GBPUSD correlates with our view on EURUSD, and the last on is right, we’ll keep the downside scenario.
2 charts are attached in the signature link.
