1st wave: GBP up from 1.4814 to 1.5435 (up 621 pips), in 12 trading days
2nd wave: correction from 1.5435 down 333 pips to hit 1.5102
3rd wave: GBP up from 1.5102 to 1.5718 (up 616 pips), in 13 trading days
4th wave: correction from 1.5718 down 255 pips to hit 1.5463
NB: note the numbers in the up trend, up 621 pips then 616. and each up movement took about 13 days to materialize.
This takes us to the 5th and final wave:
5th wave: if the 5th wave follow the pattern shown in the 1st and 3rd wave (up 620 pips in 13 days) this will take us to Wednesday 18 (FOMC Meeting) GBP trading around 1.6090.
2nd wave: correction from 1.5435 down 333 pips to hit 1.5102
3rd wave: GBP up from 1.5102 to 1.5718 (up 616 pips), in 13 trading days
4th wave: correction from 1.5718 down 255 pips to hit 1.5463
NB: note the numbers in the up trend, up 621 pips then 616. and each up movement took about 13 days to materialize.
This takes us to the 5th and final wave:
5th wave: if the 5th wave follow the pattern shown in the 1st and 3rd wave (up 620 pips in 13 days) this will take us to Wednesday 18 (FOMC Meeting) GBP trading around 1.6090.