FX:GBPUSD British Pound/U.S. Dollar
Yesterday GBP has completed the formation of a beautiful triangle with exceptional upward thrush afterwards, which brought is to 1.5520. I suspect the upward movement was not wave 5 of the impulse, but rather wave A of C of a double that the market may be tracing. Therefore we need to closely watch the formation of the corrective pattern between 1.5415 and 1.5520, as chances are high that the market will not head down, but rather up, in the area of 1.57-1.58 in order to complete the symmetric shape of a double . This correlates with EUR as well, as EUR still has one upward movement left which would complete the ending impulse of the flat corrective pattern.